Zacks Investment Research Upgrades Stewart Information Services (NYSE:STC) to Buy

Zacks Investment Research upgraded shares of Stewart Information Services (NYSE:STC) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. They currently have $69.00 target price 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. “

Separately, TD Securities started coverage on Stewart Information Services in a research report on Tuesday, August 10th. They set a buy rating on the stock.

NYSE STC opened at $60.06 on Tuesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 6.04 and a beta of 1.07. Stewart Information Services has a 52 week low of $39.72 and a 52 week high of $64.50. The business has a 50 day moving average price of $59.22 and a 200-day moving average price of $57.48. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.11.

Stewart Information Services (NYSE:STC) last released its quarterly earnings data on Tuesday, July 20th. The insurance provider reported $3.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $1.31. The firm had revenue of $818.81 million during the quarter. Stewart Information Services had a return on equity of 24.12% and a net margin of 9.32%. On average, equities research analysts anticipate that Stewart Information Services will post 9.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be given a $0.33 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $1.32 annualized dividend and a yield of 2.20%. Stewart Information Services’s dividend payout ratio is currently 20.79%.

Hedge funds have recently bought and sold shares of the business. Bbva USA purchased a new position in shares of Stewart Information Services during the 2nd quarter valued at $57,000. Heritage Wealth Management LLC purchased a new position in shares of Stewart Information Services during the 2nd quarter valued at $80,000. Captrust Financial Advisors lifted its position in shares of Stewart Information Services by 2,046.7% during the 1st quarter. Captrust Financial Advisors now owns 1,975 shares of the insurance provider’s stock valued at $103,000 after buying an additional 1,883 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Stewart Information Services by 57.3% during the 1st quarter. Federated Hermes Inc. now owns 2,207 shares of the insurance provider’s stock valued at $115,000 after buying an additional 804 shares during the last quarter. Finally, Liberty Wealth Management LLC lifted its position in shares of Stewart Information Services by 5,503.3% during the 2nd quarter. Liberty Wealth Management LLC now owns 6,780 shares of the insurance provider’s stock valued at $120,000 after buying an additional 6,659 shares during the last quarter. 92.24% of the stock is currently owned by institutional investors and hedge funds.

About Stewart Information Services

Stewart Information Services Corp. is a real estate services company, which engages in the provision of title insurance and settlement-related services. It operates through the Title Insurance and Related Services, and Ancillary Services and Corporate segments. The Title Insurance and Related Services segment comprises of searching, examining, closing, and insuring the condition of the title to real property.

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