Pinebridge Investments L.P. Has $1.27 Million Stake in Stewart Information Services Corp (NYSE:STC)

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Pinebridge Investments L.P. trimmed its holdings in shares of Stewart Information Services Corp (NYSE:STC) by 15.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,366 shares of the insurance provider’s stock after selling 5,749 shares during the period. Pinebridge Investments L.P. owned 0.13% of Stewart Information Services worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in STC. Yakira Capital Management Inc. increased its stake in shares of Stewart Information Services by 243.4% in the 1st quarter. Yakira Capital Management Inc. now owns 196,573 shares of the insurance provider’s stock valued at $8,392,000 after buying an additional 139,326 shares during the period. CNH Partners LLC grew its stake in shares of Stewart Information Services by 25.3% during the first quarter. CNH Partners LLC now owns 551,658 shares of the insurance provider’s stock worth $23,550,000 after purchasing an additional 111,534 shares during the period. Wells Fargo & Company MN grew its stake in shares of Stewart Information Services by 4.9% during the second quarter. Wells Fargo & Company MN now owns 1,043,134 shares of the insurance provider’s stock worth $42,236,000 after purchasing an additional 48,285 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Stewart Information Services by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 363,018 shares of the insurance provider’s stock worth $14,699,000 after purchasing an additional 41,020 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Stewart Information Services by 8.2% during the first quarter. Thompson Siegel & Walmsley LLC now owns 412,425 shares of the insurance provider’s stock worth $17,607,000 after purchasing an additional 31,138 shares during the period. 88.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Stewart Information Services stock traded down $0.15 during trading on Thursday, reaching $36.43. 3,754 shares of the company were exchanged, compared to its average volume of 320,217. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.31. Stewart Information Services Corp has a twelve month low of $32.61 and a twelve month high of $45.75. The business has a 50-day moving average price of $35.97 and a 200-day moving average price of $40.39. The firm has a market capitalization of $851.26 million, a price-to-earnings ratio of 16.92 and a beta of 0.56.

Stewart Information Services (NYSE:STC) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.08). Stewart Information Services had a return on equity of 6.87% and a net margin of 2.24%. The company had revenue of $472.08 million for the quarter. On average, equities research analysts forecast that Stewart Information Services Corp will post 2.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 3.29%. Stewart Information Services’s dividend payout ratio is presently 55.56%.

Separately, Zacks Investment Research cut Stewart Information Services from a “buy” rating to a “sell” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Stewart Information Services has a consensus rating of “Hold” and a consensus price target of $46.33.

In other Stewart Information Services news, Director James M. Chadwick sold 4,906 shares of Stewart Information Services stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $35.27, for a total transaction of $173,034.62. Following the transaction, the director now directly owns 1,706 shares in the company, valued at $60,170.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

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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Institutional Ownership by Quarter for Stewart Information Services (NYSE:STC)

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