Short Interest in Stewart Information Services Corp (NYSE:STC) Grows By 96.2%

Stewart Information Services Corp (NYSE:STC) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 724,900 shares, a growth of 96.2% from the April 30th total of 369,400 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 142,600 shares, the days-to-cover ratio is presently 5.1 days.

Shares of STC traded down $0.55 during mid-day trading on Monday, hitting $40.67. 2,358 shares of the company’s stock were exchanged, compared to its average volume of 119,617. The company has a market capitalization of $976.91 million, a P/E ratio of 18.85 and a beta of 0.63. Stewart Information Services has a fifty-two week low of $39.47 and a fifty-two week high of $45.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.81 and a current ratio of 3.81. The company has a 50-day moving average of $42.30.

Stewart Information Services (NYSE:STC) last issued its quarterly earnings results on Thursday, April 25th. The insurance provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.11). The business had revenue of $398.52 million for the quarter. Stewart Information Services had a return on equity of 7.41% and a net margin of 2.38%. As a group, research analysts predict that Stewart Information Services will post 2.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.95%. Stewart Information Services’s dividend payout ratio is presently 55.56%.

Separately, Zacks Investment Research raised shares of Stewart Information Services from a “sell” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $46.33.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Stewart Information Services by 4.4% during the fourth quarter. BlackRock Inc. now owns 3,486,404 shares of the insurance provider’s stock worth $144,339,000 after purchasing an additional 145,621 shares in the last quarter. Lunia Capital LP increased its stake in shares of Stewart Information Services by 3,554.4% during the fourth quarter. Lunia Capital LP now owns 2,017,215 shares of the insurance provider’s stock worth $2,017,000 after buying an additional 1,962,015 shares during the period. Wells Fargo & Company MN increased its stake in shares of Stewart Information Services by 3.0% during the first quarter. Wells Fargo & Company MN now owns 994,849 shares of the insurance provider’s stock worth $42,470,000 after buying an additional 29,144 shares during the period. CNH Partners LLC increased 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 buying an additional 111,534 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased 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 buying an additional 31,138 shares during the period. 88.32% of the stock is currently owned by institutional investors and hedge funds.

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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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