Innealta Capital LLC Purchases Shares of 3,548 First American Financial Corporation $FAF

Innealta Capital LLC acquired a new position in shares of First American Financial Corporation (NYSE:FAF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,548 shares of the insurance provider’s stock, valued at approximately $218,000.

A number of other institutional investors also recently modified their holdings of FAF. Principal Financial Group Inc. grew its position in First American Financial by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 236,876 shares of the insurance provider’s stock worth $15,546,000 after acquiring an additional 794 shares during the last quarter. Penserra Capital Management LLC raised its position in First American Financial by 137.9% in the 1st quarter. Penserra Capital Management LLC now owns 10,548 shares of the insurance provider’s stock valued at $691,000 after purchasing an additional 6,115 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in First American Financial by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 132,150 shares of the insurance provider’s stock worth $8,673,000 after purchasing an additional 3,557 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of First American Financial by 5.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 28,632 shares of the insurance provider’s stock worth $1,879,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of First American Financial by 44.8% in the first quarter. Nisa Investment Advisors LLC now owns 13,807 shares of the insurance provider’s stock valued at $906,000 after buying an additional 4,274 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

FAF opened at $60.82 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 13.08 and a beta of 1.24. The business’s 50-day moving average price is $63.64 and its two-hundred day moving average price is $61.30. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $70.92.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.42. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.First American Financial’s quarterly revenue was up 40.7% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. Sell-side analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, December 8th. This represents a $2.20 annualized dividend and a yield of 3.6%. First American Financial’s dividend payout ratio is presently 47.31%.

First American Financial declared that its Board of Directors has approved a stock repurchase plan on Wednesday, July 23rd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the insurance provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on FAF shares. Keefe, Bruyette & Woods increased their price objective on shares of First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Weiss Ratings upgraded shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Barclays upped their price target on First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Finally, Truist Financial boosted their price objective on First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, First American Financial has an average rating of “Moderate Buy” and an average target price of $76.00.

Insiders Place Their Bets

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of First American Financial stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director directly owned 28,095 shares in the company, valued at approximately $1,843,874.85. The trade was a 11.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

First American Financial Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.