Stewart Information Services Corporation - STC STOCK NEWS

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.

Stewart Information Services Corp. (NYSE: STC) has scheduled a conference call for February 11, 2021, at 8:30 a.m. ET to discuss its fourth quarter 2020 earnings. The earnings release will occur after the market closes on February 10, 2021. Interested participants can join by calling (866) 342-8591 (USA) or (203) 518-9713 (International) with access code STCQ420. A replay will be available from February 11-18, 2021. Stewart provides various real estate services, including title insurance and settlement services.

Stewart Title Limited has announced the opening of a new underwriting office in Malta, named Stewart Title Europe Limited, to manage transactions within the European Union. This strategic move aims to enhance services in Europe and is overseen by Tomasz Klodowski, Managing Director. CEO Fred Eppinger emphasized the expansion as a critical component for future growth and service excellence. The Malta office will maintain local underwriting expertise, ensuring customer satisfaction with reliable title insurance solutions. Transactions in the UK will still be processed by Stewart Title Limited.

Quisitive Technology Solutions has formed a strategic partnership with Stewart Title to enhance application development and migrate to Microsoft Azure. This collaboration, stemming from a previous successful engagement, aims to accelerate Stewart's capability to develop digitized applications, enhancing customer experience. Stewart will now be able to launch fully operational products within 45 days, a significant reduction from the previous timeline. Quisitive will provide IT services for Microsoft's initiatives, positioning both companies for future growth.

Stewart Information Services Corporation (NYSE:STC) has announced its acquisition of NotaryCam®, a leader in online notarization and mortgage eClosing solutions. This strategic acquisition aims to enhance Stewart's digital offerings in the title and closing process. By integrating NotaryCam's innovative technology, Stewart intends to improve customer service and expand its market reach beyond the real estate sector. The acquisition is positioned to be immediately accretive, reflecting Stewart's goal of becoming a premier title services provider.