KAMES CAPITAL plc lifted its holdings in First American Financial Corp (NYSE:FAF) by 35.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,138 shares of the insurance provider’s stock after purchasing an additional 7,895 shares during the quarter. KAMES CAPITAL plc’s holdings in First American Financial were worth $1,555,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Financial Gravity Wealth Inc. bought a new stake in First American Financial in the first quarter worth $252,000. Itau Unibanco Holding S.A. bought a new stake in First American Financial in the second quarter worth $265,000. HPM Partners LLC bought a new stake in First American Financial in the second quarter worth $319,000. Private Advisor Group LLC bought a new stake in First American Financial in the second quarter worth $333,000. Finally, Fox Run Management L.L.C. bought a new stake in First American Financial in the third quarter worth $370,000. 84.39% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Matthew F. Wajner sold 4,982 shares of First American Financial stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $57.29, for a total transaction of $285,418.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth D. Degiorgio sold 13,871 shares of First American Financial stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $57.25, for a total value of $794,114.75. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded First American Financial from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Tuesday, June 26th. Piper Jaffray Companies raised their price target on First American Financial from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research report on Monday, July 16th. Finally, ValuEngine downgraded First American Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.50.
Shares of FAF opened at $46.27 on Friday. The firm has a market capitalization of $5.76 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.87 and a beta of 0.70. First American Financial Corp has a 52-week low of $45.08 and a 52-week high of $62.71.
First American Financial (NYSE:FAF) last released its earnings results on Thursday, July 26th. The insurance provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. First American Financial had a return on equity of 15.03% and a net margin of 8.19%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts anticipate that First American Financial Corp will post 4.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Monday, September 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.63%. This is an increase from First American Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, September 7th. First American Financial’s dividend payout ratio (DPR) is 61.09%.
First American Financial Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
Featured Story: Trading Strategy Examples and Plans
Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.