Capital Research Global Investors increased its stake in shares of First American Financial Corporation (NYSE:FAF – Free Report) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,415,825 shares of the insurance provider’s stock after acquiring an additional 109,242 shares during the period. Capital Research Global Investors’ holdings in First American Financial were worth $209,868,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of FAF. Northwestern Mutual Wealth Management Co. raised its holdings in First American Financial by 4,485,375.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock worth $355,508,000 after acquiring an additional 5,786,134 shares in the last quarter. Norges Bank bought a new stake in First American Financial during the fourth quarter worth about $75,011,000. Manning & Napier Advisors LLC bought a new stake in First American Financial during the fourth quarter worth about $63,693,000. Boston Partners raised its holdings in First American Financial by 8.9% during the third quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock worth $393,690,000 after acquiring an additional 500,649 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in First American Financial by 163.5% during the third quarter. Two Sigma Investments LP now owns 467,823 shares of the insurance provider’s stock worth $30,053,000 after acquiring an additional 290,310 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.
Insider Buying and Selling
In other First American Financial news, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $70.59, for a total transaction of $468,011.70. Following the transaction, the director owned 24,024 shares of the company’s stock, valued at $1,695,854.16. The trade was a 21.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lisa W. Cornehl sold 5,823 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the transaction, the senior vice president directly owned 29,635 shares in the company, valued at $2,033,850.05. The trade was a 16.42% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is owned by insiders.
First American Financial Stock Down 2.7%
First American Financial (NYSE:FAF – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.27. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, research analysts anticipate that First American Financial Corporation will post 6.81 EPS for the current fiscal year.
First American Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, June 8th. First American Financial’s payout ratio is 33.79%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on FAF. Zacks Research upgraded First American Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Stephens upped their target price on First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Truist Financial upped their target price on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Barclays upped their target price on First American Financial from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $82.50.
Check Out Our Latest Stock Report on First American Financial
First American Financial Company Profile
First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.
The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.
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