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Why is Stewart Information Services Corp (STC) Stock down?

10 Apr, 2024:

Stewart Information Services Corp. (STC) stock dropped by 7.09% following an adjustment in its price target by BTIG, coupled with news regarding potential changes in lender's title insurance policies by the Consumer Financial Protection Bureau (CFPB).

  • BTIG's Price Target Adjustment: BTIG adjusted its price target for STC from $70 to $68 while maintaining a Buy rating on the stock.
  • Reason for Adjustment: The adjustment was made in response to a Bloomberg article suggesting that the CFPB is considering shifting the cost burden of lender's title insurance policies to mortgage lenders to reduce homebuyers' closing costs.
  • Investor Perception: Stewart Information Services Corp. (STC) experienced a stock decline due to BTIG's price target adjustment and news regarding potential changes in lender's title insurance policies by the CFPB. The market's reaction reflects investor concerns and uncertainty regarding the potential impact of these developments on STC's business.
insurance_property_casualty CNA
$47.43
price up icon 1.17%
insurance_property_casualty WRB
$53.45
price up icon 2.22%
insurance_property_casualty L
$76.92
price up icon 0.39%
$122.34
price up icon 0.77%
insurance_property_casualty MKL
$1,598.29
price up icon 1.52%
insurance_property_casualty HIG
$101.75
price up icon 0.40%
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