Foundation Asset Management Lp Lowers stake in Stewart Information Services Corp (STC)

Stewart Information Services Corp (STC) : Foundation Asset Management Lp reduced its stake in Stewart Information Services Corp by 0.23% during the most recent quarter end. The investment management company now holds a total of 1,310,850 shares of Stewart Information Services Corp which is valued at $60,823,440 after selling 3,000 shares in Stewart Information Services Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Stewart Information Services Corp makes up approximately 18.89% of Foundation Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Granite Investment Partners boosted its stake in STC in the latest quarter, The investment management firm added 6,838 additional shares and now holds a total of 205,272 shares of Stewart Information Services Corp which is valued at $9,524,621. Stewart Information Services Corp makes up approx 0.72% of Granite Investment Partners’s portfolio.Kerrisdale Advisers boosted its stake in STC in the latest quarter, The investment management firm added 142,387 additional shares and now holds a total of 228,270 shares of Stewart Information Services Corp which is valued at $10,591,728. Stewart Information Services Corp makes up approx 2.66% of Kerrisdale Advisers’s portfolio.Credit Suisse Ag reduced its stake in STC by selling 25,578 shares or 44.91% in the most recent quarter. The Hedge Fund company now holds 31,378 shares of STC which is valued at $1,455,939.Victory Capital Management Inc boosted its stake in STC in the latest quarter, The investment management firm added 1,905 additional shares and now holds a total of 734,867 shares of Stewart Information Services Corp which is valued at $34,244,802. Stewart Information Services Corp makes up approx 0.13% of Victory Capital Management Inc’s portfolio.Reinhart Partners boosted its stake in STC in the latest quarter, The investment management firm added 1,960 additional shares and now holds a total of 86,352 shares of Stewart Information Services Corp which is valued at $3,747,677. Stewart Information Services Corp makes up approx 0.36% of Reinhart Partners’s portfolio.

Stewart Information Services Corp opened for trading at $45.82 and hit $46.8 on the upside on Thursday, eventually ending the session at $46.52, with a gain of 1.62% or 0.74 points. The heightened volatility saw the trading volume jump to 2,74,015 shares. Company has a market cap of $1,087 M.

On the company’s financial health, Stewart Information Services Corp reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.98. The company had revenue of $489.40 million for the quarter, compared to analysts expectations of $567.04 million. The company’s revenue was down -8.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Stewart Information Services Corp. Company shares were Reiterated by FBR Capital on Jul 22, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 46 from a previous price target of $37 .

Stewart Information Services Corporation is a title insurance and real estate services company. The Company offers its products and services through its direct operations network of approved agencies and other companies within the Stewart family of companies. It also provides loan origination and servicing support; loan review services; loss mitigation; Real estate owned (REO) asset management; collateral valuations; due diligence for capital markets; home and personal insurance services; tax-deferred exchanges and technology to streamline the real estate process. The Company operates through three segments: title insurance and related services mortgage services and corporate. The Company’s customers include homebuyers and sellers residential and commercial real estate professionals mortgage lenders and servicers title agencies and real estate attorneys home builders and the United States and county governments.

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