Quantinno Capital Management LP lowered its position in First American Financial Corporation (NYSE:FAF – Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 603,070 shares of the insurance provider’s stock after selling 25,610 shares during the quarter. Quantinno Capital Management LP’s holdings in First American Financial were worth $36,359,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in FAF. Mendon Capital Advisors Corp acquired a new stake in shares of First American Financial in the 1st quarter valued at $71,680,000. Waverly Advisors LLC purchased a new stake in shares of First American Financial during the 1st quarter worth $7,717,000. Entropy Technologies LP acquired a new position in shares of First American Financial during the first quarter worth $815,000. Gabelli Funds LLC grew its stake in shares of First American Financial by 24.7% during the first quarter. Gabelli Funds LLC now owns 98,962 shares of the insurance provider’s stock worth $5,966,000 after purchasing an additional 19,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in First American Financial by 469.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,284,417 shares of the insurance provider’s stock valued at $77,438,000 after buying an additional 1,058,949 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.
Insider Buying and Selling
In other news, CAO Steven A. Adams sold 3,253 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the sale, the chief accounting officer owned 10,234 shares in the company, valued at $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Lisa W. Cornehl sold 5,823 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the sale, the senior vice president owned 29,635 shares of the company’s stock, valued at $2,033,850.05. This trade represents a 16.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on FAF
First American Financial Stock Performance
Shares of FAF opened at $75.59 on Friday. First American Financial Corporation has a fifty-two week low of $56.20 and a fifty-two week high of $79.87. The firm has a 50-day simple moving average of $69.13 and a 200-day simple moving average of $66.45. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.73 and a beta of 1.23.
First American Financial (NYSE:FAF – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.28. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. Equities research analysts forecast that First American Financial Corporation will post 7.02 EPS for the current year.
First American Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. First American Financial’s payout ratio is presently 30.47%.
About First American Financial
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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