Stewart Information Services Co. (NYSE:STC) Short Interest Up 50.9% in March

Stewart Information Services Co. (NYSE:STC) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 965,400 shares, an increase of 50.9% from the February 28th total of 639,900 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average trading volume of 198,400 shares, the days-to-cover ratio is currently 4.9 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Stewart Information Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 630,751 shares of the insurance provider’s stock worth $47,151,000 after purchasing an additional 8,597 shares during the period. FMR LLC lifted its position in shares of Stewart Information Services by 0.4% during the 3rd quarter. FMR LLC now owns 2,488,342 shares of the insurance provider’s stock worth $185,979,000 after buying an additional 8,853 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Stewart Information Services by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 134,391 shares of the insurance provider’s stock valued at $9,070,000 after buying an additional 3,938 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Stewart Information Services by 5.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,071 shares of the insurance provider’s stock valued at $4,938,000 after acquiring an additional 3,272 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Stewart Information Services during the fourth quarter worth about $749,000. 96.90% of the stock is owned by institutional investors.

Stewart Information Services Stock Performance

Shares of NYSE STC traded down $0.92 during midday trading on Friday, hitting $71.68. 119,615 shares of the company’s stock were exchanged, compared to its average volume of 172,864. Stewart Information Services has a 12 month low of $58.23 and a 12 month high of $78.44. The company’s 50 day moving average price is $68.53 and its 200 day moving average price is $70.03. The company has a quick ratio of 1.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.99 billion, a PE ratio of 27.57 and a beta of 1.19.

Stewart Information Services (NYSE:STC) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Stewart Information Services had a net margin of 2.94% and a return on equity of 6.81%. As a group, analysts predict that Stewart Information Services will post 6.29 earnings per share for the current fiscal year.

Stewart Information Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 17th. Stewart Information Services’s dividend payout ratio is 76.92%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on STC shares. Stephens reiterated an “overweight” rating and issued a $82.00 price target on shares of Stewart Information Services in a research note on Thursday, February 6th. StockNews.com upgraded Stewart Information Services from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Keefe, Bruyette & Woods upped their price objective on Stewart Information Services from $74.00 to $75.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th.

Stewart Information Services Company Profile

Stewart Information Services Corporation, through its subsidiaries, provides title insurance and real estate transaction related services in the United States and internationally. The company involves in searching, examining, closing, and insuring the condition of the title to real property. It also offers home and personal insurance services; services for tax-deferred exchanges; and digital customer engagement platform services.