Stewart Acquires Majority Stake in Texas Title Agency Rattikin
STC sits 26% above its 52-week low of $56.39 on light trading volume (0.1× avg).
Summary
Stewart acquires a majority interest in Rattikin Title Company, an 82-year-old Texas title agency with a strong brand in the fast-growing North Texas region. The deal expands Stewart's direct operations in a key market and follows a strong Q1 where revenues rose 27.7%. No financial terms were disclosed, but the acquisition adds scale and local expertise to Stewart's title insurance network. The integration of a well-established agency could drive incremental revenue and market share gains in Texas.
At the time of this announcement, STC was trading at $71.13 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $56.39 to $78.61. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.