Los Angeles Capital Management LLC acquired a new stake in First American Financial Corporation (NYSE:FAF – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 33,993 shares of the insurance provider’s stock, valued at approximately $2,096,000.
A number of other hedge funds also recently made changes to their positions in the business. Vestcor Inc acquired a new position in shares of First American Financial in the 4th quarter valued at $325,000. Goldman Sachs Group Inc. raised its stake in shares of First American Financial by 21.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 466,166 shares of the insurance provider’s stock valued at $28,641,000 after buying an additional 83,292 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of First American Financial by 150.4% in the 4th quarter. Root Financial Partners LLC now owns 934 shares of the insurance provider’s stock valued at $57,000 after buying an additional 561 shares in the last quarter. Norges Bank acquired a new position in shares of First American Financial in the 4th quarter valued at $75,011,000. Finally, Intech Investment Management LLC raised its stake in shares of First American Financial by 607.7% in the 4th quarter. Intech Investment Management LLC now owns 89,859 shares of the insurance provider’s stock valued at $5,521,000 after buying an additional 77,162 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.
Insider Transactions at First American Financial
In related news, Director Margaret M. Mccarthy sold 6,630 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the sale, the director owned 24,024 shares in the company, valued at $1,695,854.16. This trade represents a 21.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Lisa W. Cornehl sold 5,823 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total transaction 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. Company insiders own 3.50% of the company’s stock.
First American Financial Stock Up 2.0%
First American Financial (NYSE:FAF – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.27. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. On average, equities analysts anticipate that First American Financial Corporation will post 6.81 earnings per share for the current year.
First American Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is 33.79%.
Wall Street Analysts Forecast Growth
FAF has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Truist Financial increased their price objective on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Zacks Research upgraded shares of First American Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, First American Financial currently has an average rating of “Buy” and a consensus price target of $82.50.
View Our Latest Stock Analysis on FAF
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.
Featured Articles
- Five stocks we like better than First American Financial
- The Bank of Mom and Dad Is Booming—3 Stocks to Watch
- Corning Is Paving AI’s Future With Glass
- Why’s Amazon Suddenly Lagging the S&P 500, and Is It a Warning?
- Crypto Winter Is Here: 3 Stocks To Put On Ice This Summer
Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Financial Corporation (NYSE:FAF – Free Report).
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.
