Principal Financial Group Inc. Has $9.75 Million Stake in Stewart Information Services Co. (NYSE:STC)

Principal Financial Group Inc. cut its stake in Stewart Information Services Co. (NYSE:STC) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,453 shares of the insurance provider’s stock after selling 5,548 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Stewart Information Services worth $9,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Stewart Information Services by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,922,385 shares of the insurance provider’s stock valued at $125,070,000 after buying an additional 15,910 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Stewart Information Services in the second quarter valued at about $503,000. Assenagon Asset Management S.A. lifted its position in shares of Stewart Information Services by 1.5% during the second quarter. Assenagon Asset Management S.A. now owns 83,944 shares of the insurance provider’s stock valued at $5,211,000 after purchasing an additional 1,217 shares in the last quarter. Millennium Management LLC lifted its position in shares of Stewart Information Services by 906.9% during the second quarter. Millennium Management LLC now owns 656,143 shares of the insurance provider’s stock valued at $40,733,000 after purchasing an additional 590,977 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Stewart Information Services by 21.7% during the second quarter. Sei Investments Co. now owns 43,032 shares of the insurance provider’s stock worth $2,671,000 after purchasing an additional 7,686 shares during the last quarter. Institutional investors own 96.90% of the company’s stock.

Stewart Information Services Stock Performance

NYSE:STC opened at $72.82 on Tuesday. Stewart Information Services Co. has a 52-week low of $45.12 and a 52-week high of $76.83. The business’s fifty day moving average is $71.36 and its 200 day moving average is $68.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 34.35 and a beta of 1.21.

Stewart Information Services (NYSE:STC) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $0.96 by $0.21. Stewart Information Services had a net margin of 2.47% and a return on equity of 5.77%. The company had revenue of $667.94 million during the quarter, compared to analysts’ expectations of $638.40 million. During the same quarter in the previous year, the company earned $0.86 earnings per share. Stewart Information Services’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts predict that Stewart Information Services Co. will post 3.32 EPS for the current year.

Stewart Information Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.75%. This is an increase from Stewart Information Services’s previous quarterly dividend of $0.48. Stewart Information Services’s payout ratio is currently 94.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on STC shares. Stephens restated an “overweight” rating and issued a $79.00 price objective on shares of Stewart Information Services in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased their price target on shares of Stewart Information Services from $71.00 to $75.00 and gave the company a “market perform” rating in a research report on Wednesday, September 4th. Finally, BTIG Research lifted their price objective on shares of Stewart Information Services from $68.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Stewart Information Services 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.