Welcome to our dedicated page for Stewart Info news (Ticker: STC), a resource for investors and traders seeking the latest updates and insights on Stewart Info stock.
Stewart Information Services Corporation provides title insurance and real estate services for residential and commercial transactions through direct operations, the Stewart Trusted Providers™ network and affiliated companies. Its news commonly covers title insurance, closing and settlement services, lender services, appraisal and valuation solutions, and real estate data and workflow platforms serving mortgage and real estate professionals.
Recurring updates include quarterly operating results for the title and real estate solutions segments, dividend announcements, acquisition activity within valuation services, and product enhancements across Stewart-owned platforms such as PropStream, Cloudvirga, BatchDialer and Stewart Virtual Underwriter®.
Stewart Information Services Corporation (NYSE:STC) has announced a rise in its annual cash dividend from $1.32 to $1.50 per share, representing a commitment to returning capital to shareholders. The fourth-quarter dividend of $0.375 per share will be payable on December 31, 2021, with a record date of December 15, 2021. CEO Fred Eppinger emphasized this decision aligns with the company's goal of providing consistent returns through operational performance and dividends.
Stewart Information Services Corporation (NYSE: STC) has priced a public offering of $450 million in 3.600% senior notes due 2031, expected to close on November 24, 2021. These general senior unsecured obligations will rank equally with the company’s existing unsecured debts. Interest will be paid semi-annually, starting May 15, 2022. Proceeds will be used to repay term loan borrowings and for general corporate purposes, including acquisitions and debt repurchase. Goldman Sachs & Co. LLC and PNC Capital Markets LLC are acting as joint lead managers for the offering.
Stewart Information Services Corporation (NYSE:STC) announced an agreement to acquire PropStream for $175 million, funded through available company resources. The acquisition aims to enhance Stewart's real estate data and analytics offerings, providing better insights for customers involved in real estate transactions. Expected to close on November 15, the deal is immediately accretive, with PropStream continuing to operate as a standalone entity. This acquisition reflects Stewart's commitment to expanding its digital services and capabilities in the real estate sector.
Stewart Title has acquired Rainier Title Company, enhancing its presence in the Pacific Northwest. This strategic move aims to position Stewart as a market leader in the region and reinforces its commitment to providing top-tier title services. With over 20 years of service experience in the industry, Rainier Title is recognized for its customer satisfaction and professionalism. Stewart’s President, Steve Lessack, highlighted the synergy between the two companies, anticipating new growth opportunities and an improved customer experience.
Stewart Information Services Corporation (NYSE: STC) reported a strong third quarter 2021, with net income of $88.7 million ($3.26 per diluted share), up from $55.9 million ($2.21 per diluted share) in Q3 2020. Adjusted net income increased 55% to $86.4 million. Total revenues rose 40% to $836.7 million, bolstered by a 36% increase in title operating revenues. The company remains optimistic about market trends and aims to leverage growth opportunities while addressing uncertainty ahead.
Stewart Information Services Corp. (NYSE: STC) will hold a conference call to discuss its third quarter 2021 earnings on October 28, 2021, at 8:30 a.m. Eastern Time. This follows the release of earnings after market close on October 27. Participants can join by calling (877) 876-9174 (USA) or (785) 424-1669 (International), using access code STCQ321. A replay will be available from 11 a.m. Eastern Time on October 28 until midnight on November 4.
Stewart Information Services Corporation has appointed Michael Moshay as the new Senior Vice President of Data & Analytics. Moshay will spearhead Stewart's data strategy, focusing on optimizing data resources for Stewart Title divisions. His extensive background includes 15 years with a major title insurance provider and a recent role at Zillow. CEO Fred Eppinger emphasized that Moshay's expertise will enhance the customer experience through improved data management. Stewart aims to leverage recent technology acquisitions to refine the real estate and loan processes.
D.A. Davidson & Co. has advised Informative Research (IR), a provider of mortgage technology solutions, on its sale to Stewart Information Services Corporation (STC) for approximately $192 million. Founded in 1946 and serving over 3,000 customers, IR offers tools for streamlining the mortgage loan cycle. This acquisition aims to enhance Stewart’s data and analytics capabilities, fostering a holistic real estate service platform. D.A. Davidson reported extensive experience in the mortgage tech sector, advising on over $20 billion in transactions since January 2021.
Stewart Title has acquired Stewart Title of Sacramento (STS) and Stewart Title of Placer (STP), enhancing its presence in Northern California. This acquisition adds 13 branches and strengthens the company's market position in the Greater Sacramento area, which has been served by these independent agents for over 40 years. Leaders from both organizations highlighted the synergy and potential for improved service and customer experience. Stewart aims to leverage combined expertise and digital tools for superior title and escrow services, furthering its goal to be a premier title services provider.
On September 1, 2021, Stewart Information Services Corporation (NYSE:STC) announced a cash dividend of $0.33 per share for Q3 2021. The dividend will be paid on September 30, 2021, to stockholders of record as of September 15, 2021. This declaration reflects the company's commitment to returning value to its shareholders amidst its ongoing efforts in various real estate services.