PNC Financial Services Group Inc. Reduces Stock Position in Stewart Information Services Co. (NYSE:STC)

PNC Financial Services Group Inc. lessened its position in Stewart Information Services Co. (NYSE:STC) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,894 shares of the insurance provider’s stock after selling 849 shares during the period. PNC Financial Services Group Inc.’s holdings in Stewart Information Services were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Heritage Wealth Management LLC bought a new stake in shares of Stewart Information Services in the fourth quarter worth about $216,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Stewart Information Services during the third quarter valued at approximately $227,000. Truist Financial Corp bought a new position in shares of Stewart Information Services during the fourth quarter valued at approximately $247,000. ARGA Investment Management LP purchased a new stake in Stewart Information Services in the fourth quarter worth $293,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Stewart Information Services by 49.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,466 shares of the insurance provider’s stock valued at $380,000 after acquiring an additional 2,147 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STC shares. Keefe, Bruyette & Woods raised their target price on shares of Stewart Information Services from $57.00 to $59.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. BTIG Research lifted their price objective on Stewart Information Services from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Stephens reissued an “overweight” rating and issued a $79.00 target price on shares of Stewart Information Services in a research report on Thursday, April 25th. Finally, StockNews.com upgraded Stewart Information Services from a “hold” rating to a “buy” rating in a research report on Friday, June 21st.

Stewart Information Services Price Performance

Shares of STC opened at $61.12 on Friday. Stewart Information Services Co. has a fifty-two week low of $38.40 and a fifty-two week high of $66.66. The firm’s 50-day simple moving average is $62.70 and its two-hundred day simple moving average is $61.20. The stock has a market cap of $1.69 billion, a PE ratio of 40.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.95 and a current ratio of 1.95.

Stewart Information Services (NYSE:STC) last posted its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $0.17 earnings per share for the quarter. The company had revenue of $554.32 million for the quarter. Stewart Information Services had a return on equity of 4.69% and a net margin of 1.83%. Analysts anticipate that Stewart Information Services Co. will post 4.24 earnings per share for the current fiscal year.

Stewart Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, June 17th. Stewart Information Services’s dividend payout ratio is presently 125.00%.

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.