Stewart Information Services Corp (NYSE:STC) Sees Large Decline in Short Interest
Stewart Information Services Corp (NYSE:STC) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 324,000 shares, a decrease of 24.8% from the June 15th total of 430,600 shares. Based on an average daily trading volume, of 164,800 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.4% of the company’s stock are sold short.
Several research firms recently issued reports on STC. Zacks Investment Research cut shares of Stewart Information Services from a “hold” rating to a “sell” rating in a research note on Friday, May 29th. Keefe, Bruyette & Woods raised shares of Stewart Information Services from an “underperform” rating to a “market perform” rating in a research note on Sunday, April 19th. Finally, Stephens upped their target price on shares of Stewart Information Services from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 24th.
In other Stewart Information Services news, Director Matthew Morris sold 9,200 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $30.75, for a total transaction of $282,900.00. Following the sale, the director now owns 317,757 shares in the company, valued at approximately $9,771,027.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frederick H. Eppinger acquired 10,100 shares of Stewart Information Services stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $28.54 per share, with a total value of $288,254.00. Following the completion of the purchase, the chief executive officer now owns 59,541 shares of the company’s stock, valued at $1,699,300.14. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 67,991 shares of company stock valued at $2,168,413. Insiders own 2.36% of the company’s stock.
NYSE:STC traded up $0.47 on Tuesday, hitting $31.73. The stock had a trading volume of 88,300 shares, compared to its average volume of 161,933. The stock has a market cap of $740.30 million, a price-to-earnings ratio of 8.24 and a beta of 0.98. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $31.67 and a two-hundred day moving average price of $34.11. Stewart Information Services has a 1-year low of $20.26 and a 1-year high of $44.14.
Stewart Information Services (NYSE:STC) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.34. Stewart Information Services had a return on equity of 11.32% and a net margin of 4.57%. The company had revenue of $439.90 million for the quarter. As a group, analysts anticipate that Stewart Information Services will post 2.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.78%. Stewart Information Services’s payout ratio is 43.64%.
Stewart Information Services Company Profile
Stewart Information Services Corporation, through its subsidiaries, provides title insurance and real estate transaction services. The company operates in two segments, Title Insurance and Related Services, and Ancillary Services and Corporate. The Title Insurance and Related Services segment is involved in searching, examining, closing, and insuring the condition of the title to real property.
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