13GD Ownership Change: Why Jeffrey Smith’s Starboard Value Lp Reported Big Stewart Information Services Corp Position?

13GD Ownership Change: Why Jeffrey Smith's Starboard Value Lp Reported Big Stewart Information Services Corp Position?

The New Jeffrey Smith’s Starboard Value Lp Holding in Stewart Information Services Corp

Starboard Value Lp filed with the SEC SC 13D/A form for Stewart Information Services Corp. The form can be accessed here: 000090266416008448. As reported in Jeffrey Smith’s Starboard Value Lp’s form, the filler as of late owns 9.9% or 2,315,000 shares of the Finance–company.

Stewart Information Services Corp stake is a new one for the for the hedge fund and it was filed because of activity on October 17, 2016. We feel this shows Jeffrey Smith’s Starboard Value Lp’s positive view for the stock. For a hedge fund managing $2.57 billion in assets and having 15+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Jeffrey Smith’s Starboard Value Lp’s US equities portfolio is in this sector.

Stewart Information Services Corp Institutional Sentiment

Latest Security and Exchange filings show 127 investors own Stewart Information Services Corp. The institutional ownership in Q3 2015 is high, at 84.90% of the outstanding shares. This is decreased by 576500 the total institutional shares. 19840619 were the shares owned by these institutional investors. In total 13 funds opened new Stewart Information Services Corp stakes, 55 increased stakes. There were 14 that closed positions and 36 reduced them.

4 managers had the stock in their top Ten. Notable investors are: Bulldog Investors Llc, Foundation Asset Management Lp, Three Corner Global Investors Lp, Basswood Capital Management L.L.C…

Matthew Lindenbaum Basswood Capital Management Llc is an institutional investor bullish on Stewart Information Services Corp, owning 856114 shares as of Q3 2015 for 1.73% of its portfolio. Zac Hirzel Hirzel Capital Management Llc owns 891796 shares or 5.19% of its portfolio. NY Foundation Asset Management Lp have 16.44% of their stock portfolio for 1432225 shares. Further, Three Corner Global Investors Lp reported stake worth 5.92% of its US stock portfolio. The NJ Bulldog Investors Llc owns 1178997 shares. Stewart Information Services Corp is 22.21% of the manager’s US portfolio.

Business Profile

Stewart Information Services Corporation is a global real estate services company. The Company is engaged in offering products and services through its direct operations, network of Stewart Trusted Providers and family of companies. The Company operates through three segments: title insurance and related services, mortgage services and corporate. Title insurance and related services (title) segment includes the functions of searching, examining, closing and insuring the condition of the title to real property. The Company’s mortgage services segment includes a diverse set of products and services provided to enhance the mortgage and real estate markets. Its services ranges from residential and commercial title insurance, and closing and settlement services to specialized offerings for the mortgage industry. The Company provides its services to homebuyers and sellers, residential and commercial real estate professionals, and mortgage lenders and servicers, among others.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Jeffrey Smith’s Starboard Value Lp website.

Insitutional Activity: The institutional sentiment decreased to 1.03 in Q2 2016. Its down 0.79, from 1.82 in 2016Q1. The ratio turned negative, as 20 funds sold all Stewart Information Services Corp shares owned while 44 reduced positions. 13 funds bought stakes while 53 increased positions. They now own 20.48 million shares or 1.13% less from 20.71 million shares in 2016Q1.

Barclays Public Limited Company last reported 0% of its portfolio in the stock. Sei Invs holds 339 shares or 0% of its portfolio. Vanguard Group reported 961,039 shares or 0% of all its holdings. Moreover, State Board Of Administration Of Florida Retirement Systems has 0% invested in Stewart Information Services Corp (NYSE:STC) for 18,700 shares. Eaton Vance Mngmt holds 0.02% or 175,979 shares in its portfolio. The Virginia-based Thompson Siegel And Walmsley Ltd Liability Corporation has invested 0.51% in Stewart Information Services Corp (NYSE:STC). Fisher Asset Management Ltd Limited Liability Company has 44,188 shares for 0% of their US portfolio. Manufacturers Life The last reported 0% of its portfolio in the stock. Suntrust Banks reported 10,912 shares or 0% of all its holdings. Jacobs Levy Equity Management Incorporated last reported 7,420 shares in the company. Davenport And Communication Ltd Liability holds 0% of its portfolio in Stewart Information Services Corp (NYSE:STC) for 10,850 shares. Lsv Asset Mngmt owns 2,700 shares or 0% of their US portfolio. Northern Corp holds 344,006 shares or 0% of its portfolio. Basswood Mngmt Ltd Limited Liability Company reported 876,765 shares or 2.1% of all its holdings. Texas Permanent School Fund has 17,855 shares for 0.01% of their US portfolio.

Insider Transactions: Since April 22, 2016, the stock had 1 insider buy, and 0 sales for $2.00 million net activity. CHADWICK JAMES M also bought $2.00 million worth of Stewart Information Services Corp (NYSE:STC) shares. Lessack Steven Mark also sold $117,757 worth of Stewart Information Services Corp (NYSE:STC) shares.

Analysts await Stewart Information Services Corp (NYSE:STC) to report earnings on October, 27. They expect $0.97 EPS, up 3.19% or $0.03 from last year’s $0.94 per share. STC’s profit will be $22.58M for 11.85 P/E if the $0.97 EPS becomes a reality. After $0.49 actual EPS reported by Stewart Information Services Corp for the previous quarter, Wall Street now forecasts 97.96% EPS growth.

The stock decreased 0.80% or $0.37 during the last trading session, hitting $45.97. About 274,095 shares traded hands or 54.42% up from the average. Stewart Information Services Corp (NYSE:STC) has risen 44.23% since March 16, 2016 and is uptrending. It has outperformed by 38.68% the S&P500.

Stewart Information Services Corporation is a global real estate services company. The company has a market cap of $1.07 billion. The Firm is engaged in offering services and products through its direct operations, network of Stewart Trusted Providers and family of companies. It currently has negative earnings. The Firm operates through three divisions: title insurance and related services, mortgage services and corporate.

Stewart Information Services Corp (NYSE:STC) Ratings Coverage

Out of 4 analysts covering Stewart Info (NYSE:STC), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. $46 is the highest target while $37 is the lowest. The $43 average target is -6.46% below today’s ($45.97) stock price. Stewart Info has been the topic of 5 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock has “Market Perform” rating given by Wood on Monday, August 3. The firm has “Mkt Perform” rating given on Monday, August 3 by Bruyette & Woods”. The stock of Stewart Information Services Corp (NYSE:STC) has “Mkt Perform” rating given on Friday, February 12 by FBR Capital. FBR Capital maintained Stewart Information Services Corp (NYSE:STC) rating on Friday, July 22. FBR Capital has “Mkt Perform” rating and $46 price target.

More notable recent Stewart Information Services Corp (NYSE:STC) news were published by: Prnewswire.com which released: “Stewart Information Services Corporation Announces Cash Dividend” on September 01, 2016, also Businesswire.com with their article: “Stewart Information Services Corporation Announces 3rd Quarter 2016 Earnings …” published on October 10, 2016, Bloomberg.com published: “Starboard Targets Stewart Information With New 9.9% Stake” on August 12, 2016. More interesting news about Stewart Information Services Corp (NYSE:STC) were released by: Nasdaq.com and their article: “Stewart Information Services Corporation (STC) Ex-Dividend Date Scheduled for …” published on September 12, 2016 as well as Seekingalpha.com‘s news article titled: “Special Situation: Is Stewart Information Services For Sale?” with publication date: June 08, 2016.

According to Zacks Investment Research, “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.”

STC Company Profile

Stewart Information Services Corporation, incorporated March 25, 1970, is a global real estate services company. The Firm is engaged in offering services and products through its direct operations, network of Stewart Trusted Providers and family of companies. The Firm operates through three divisions: title insurance and related services, mortgage services and corporate. The Company’s services ranges from residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry. The Firm provides its services to homebuyers and sellers, residential and commercial real estate professionals, mortgage lenders and servicers, title agencies and real estate attorneys, homebuilders, and United States and foreign governments. The Company’s international division delivers services and products protecting and promoting private land ownership across the world. The Company’s primary international activities are in Canada, the United Kingdom, Central Europe, Latin America and Australia.

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