Stewart Information Services (STC) Raised to Hold at Zacks Investment Research
Stewart Information Services (NYSE:STC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Stewart Information Services Corporation’s primary business is title insurance. Stewart issues policies through issuing locations on homes and other real property located in all 50 states, the District of Columbia and several foreign countries. Stewart also sells computer-related services and information, as well as mapping products and geographic information systems, to domestic and foreign governments and private entities. “
Separately, Keefe, Bruyette & Woods raised Stewart Information Services from an “underperform” rating to a “market perform” rating in a research report on Wednesday, November 8th.
Stewart Information Services (NYSE:STC) last announced its earnings results on Monday, November 6th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.25). Stewart Information Services had a net margin of 2.57% and a return on equity of 7.37%. The business had revenue of $498.05 million during the quarter, compared to analyst estimates of $470.30 million. During the same period in the previous year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. equities research analysts anticipate that Stewart Information Services will post 2.46 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in STC. Citadel Advisors LLC raised its position in shares of Stewart Information Services by 451.5% during the 3rd quarter. Citadel Advisors LLC now owns 280,515 shares of the insurance provider’s stock valued at $10,593,000 after acquiring an additional 229,651 shares in the last quarter. AJO LP acquired a new stake in shares of Stewart Information Services during the 2nd quarter valued at approximately $7,817,000. Thompson Siegel & Walmsley LLC raised its position in shares of Stewart Information Services by 33.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 616,724 shares of the insurance provider’s stock valued at $23,288,000 after acquiring an additional 155,770 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Stewart Information Services during the 2nd quarter valued at approximately $6,599,000. Finally, Wells Fargo & Company MN raised its position in shares of Stewart Information Services by 13.6% during the 3rd quarter. Wells Fargo & Company MN now owns 763,468 shares of the insurance provider’s stock valued at $28,829,000 after acquiring an additional 91,643 shares in the last quarter. 86.63% of the stock is currently owned by institutional investors.
About Stewart Information Services
Stewart Information Services Corporation is a global real estate services company. The Company is engaged in offering products and services through its direct operations, network of Stewart Trusted Providers and family of companies. The Company operates through two segments: title insurance and ancillary services and corporate.
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