Stewart Information Services Corporation - STC STOCK NEWS

Stewart Title has appointed Peggy Sue Lane as the new Senior Vice President and Regional Manager for Southern California, Arizona, and Nevada. With over 30 years in the title industry, including nine years as a Vice President at First American Title, Lane brings significant experience in both commercial and residential sectors. Her role is expected to enhance Stewart's commercial strategy and client relationships. The leadership expressed excitement about her potential to contribute to Stewart's ambition of becoming the premier title services company.

Stewart Information Services Corporation (NYSE: STC) has increased and extended its credit facility terms. The maximum line of credit rose from $200 million to $350 million, with a five-year extension to March 2026. The agreement includes three new banks, maintaining existing relationships, while adjusting financial covenants to better align with current performance. CEO Fred Eppinger emphasizes the enhanced capacity for strategic acquisitions, supporting long-term growth objectives.

Stewart Information Services Corporation (NYSE:STC) has acquired A.S.K. Services, Inc., enhancing its title production resources for independent agency partners. A.S.K. Services specializes in search and support services within the title industry, operating across five states and 312 counties. This acquisition aims to improve Stewart's title production capabilities, integrating innovative technology and experienced professionals. The merger aligns both companies' cultures and is expected to expand Stewart's market footprint and enhance offerings for existing clients.

Stewart Information Services Corporation (NYSE:STC) announced the appointment of Ana Villela-Murillo as the new Group Vice President for the Southeast, overseeing Direct Operations in Florida, Alabama, Arkansas, and Tennessee. With 24 years at First American Title, where she served as Vice President of Operations, Villela-Murillo is set to enhance Stewart's presence in these key markets. Her operational expertise and leadership are expected to drive strong financial results and foster team innovation, aligning with Stewart's commitment to growth in real estate services.

Stewart Information Services Corporation (NYSE:STC) announced that its subsidiary NotaryCam® has been recognized for the third consecutive year in the HousingWire Tech100 Real Estate list. This recognition highlights NotaryCam's significant contributions to the online notarization sector, particularly during the COVID-19 pandemic. Key achievements include onboarding 350,000 users, a 10x increase in remote online notarization demand, and a 100% revenue increase over Q1 and Q2 2020. The CEO emphasized NotaryCam's role in transforming the digital closing process.

Stewart Information Services Corporation (NYSE:STC) declared a cash dividend of $0.33 per share for the first quarter of 2021. This dividend will be paid on March 31, 2021, to shareholders on record as of March 15, 2021. The company specializes in real estate services, offering a range of products including title insurance and closing services, contributing to strong relationships in the industry.

Stewart Information Services Corporation (NYSE:STC) has announced its acquisition of Signature Closers, LLC. This strategic move aims to enhance Stewart's digital capabilities by integrating Signature Closers' notary services with its existing platforms, including NotaryCam and CertifID. CEO Fred Eppinger emphasized that the acquisition will simplify and secure the title and closing process for customers. Signature Closers will continue to operate, offering extensive signing support through a network of compliant notary agents, further advancing Stewart's mission to provide superior real estate services.

Stewart Information Services Corporation (NYSE – STC) has announced a 10% increase in its annual cash dividend, raising it to $1.32 per share. This increase will commence with the first quarterly payment in 2021, reflecting the company's commitment to return capital to shareholders. CEO Fred Eppinger highlighted strong fourth-quarter and year-end revenue growth across all business lines as a key driver for this decision, emphasizing improved margins and cash flow management.

Stewart Information Services Corporation (NYSE: STC) reported a remarkable fourth quarter in 2020, achieving a net income of $59.7 million ($2.22 per diluted share), a significant improvement from a break-even result in Q4 2019. Adjusted net income rose 174% to $56.4 million, while total revenues surged to $736.7 million, up 44% year-over-year. The title segment drove growth with a 36% revenue increase, and pretax income skyrocketed by 367%. Despite increased operating expenses, effective cost management and acquisitions bolstered profitability. The firm anticipates a stable 2021 loss ratio compared to 2020.