First American Financial Corporation $FAF Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in First American Financial Corporation (NYSE:FAF) by 29.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 13,677 shares of the insurance provider’s stock after buying an additional 3,129 shares during the quarter. Penserra Capital Management LLC’s holdings in First American Financial were worth $839,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FAF. Cetera Investment Advisers raised its position in First American Financial by 137.8% in the first quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock valued at $1,384,000 after purchasing an additional 12,222 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of 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 buying an additional 3,557 shares during the period. Advantage Alpha Capital Partners LP grew its stake in shares of First American Financial by 14.2% in the first quarter. Advantage Alpha Capital Partners LP now owns 81,010 shares of the insurance provider’s stock valued at $5,317,000 after buying an additional 10,044 shares in the last quarter. Cerity Partners LLC grew its stake in shares of First American Financial by 23.9% in the first quarter. Cerity Partners LLC now owns 33,033 shares of the insurance provider’s stock valued at $2,168,000 after buying an additional 6,374 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of First American Financial by 10.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,273 shares of the insurance provider’s stock valued at $280,000 after buying an additional 420 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Trading Up 1.7%

FAF stock opened at $64.14 on Wednesday. The firm has a 50 day simple moving average of $63.50 and a 200-day simple moving average of $61.40. The company has a market capitalization of $6.54 billion, a P/E ratio of 13.79 and a beta of 1.24. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $70.92.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.42. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was up 40.7% on a year-over-year basis. On average, research analysts predict that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. First American Financial’s dividend payout ratio (DPR) is presently 47.31%.

First American Financial announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 23rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.