Zacks Investment Research upgraded shares of Stewart Information Services (NYSE:STC) from a hold rating to a buy rating in a report released on Friday, Zacks.com reports. Zacks Investment Research currently has $46.00 price target on the insurance provider’s stock.
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. “
STC traded up $0.27 during trading on Friday, hitting $42.30. The company’s stock had a trading volume of 106,244 shares, compared to its average volume of 169,527. The company has a current ratio of 4.07, a quick ratio of 3.75 and a debt-to-equity ratio of 0.29. Stewart Information Services has a twelve month low of $32.61 and a twelve month high of $44.99. The business’s fifty day simple moving average is $39.19 and its 200 day simple moving average is $39.31. The firm has a market capitalization of $998.87 million, a price-to-earnings ratio of 19.58 and a beta of 0.51.
Several large investors have recently modified their holdings of STC. Nuveen Asset Management LLC acquired a new stake in shares of Stewart Information Services in the second quarter worth approximately $5,244,000. Morgan Stanley boosted its stake in shares of Stewart Information Services by 55.3% in the second quarter. Morgan Stanley now owns 325,711 shares of the insurance provider’s stock worth $13,187,000 after acquiring an additional 115,941 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Stewart Information Services by 17.8% in the second quarter. Invesco Ltd. now owns 659,672 shares of the insurance provider’s stock worth $26,710,000 after acquiring an additional 99,746 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Stewart Information Services in the second quarter worth approximately $3,239,000. Finally, Russell Investments Group Ltd. purchased a new position in Stewart Information Services during the third quarter worth approximately $2,974,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.
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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