Louisiana State Employees Retirement System Buys New Stake in First American Financial Corporation $FAF

Louisiana State Employees Retirement System purchased a new stake in First American Financial Corporation (NYSE:FAFFree Report) during the first quarter, HoldingsChannel.com reports. The fund purchased 29,500 shares of the insurance provider’s stock, valued at approximately $1,779,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of First American Financial during the fourth quarter valued at about $27,000. Global Retirement Partners LLC increased its holdings in shares of First American Financial by 1,107.5% in the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 443 shares during the last quarter. Danske Bank A S purchased a new stake in shares of First American Financial in the third quarter worth about $45,000. IFP Advisors Inc lifted its position in shares of First American Financial by 568.8% in the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock worth $46,000 after buying an additional 637 shares in the last quarter. Finally, SHP Wealth Management bought a new position in First American Financial during the fourth quarter valued at approximately $51,000. Institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of NYSE FAF opened at $68.58 on Wednesday. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $71.47. The business’s 50 day moving average is $67.67 and its two-hundred day moving average is $64.96. The stock has a market capitalization of $6.99 billion, a P/E ratio of 10.54, a PEG ratio of 0.66 and a beta of 1.24.

First American Financial (NYSE:FAFGet Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.27. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. As a group, equities research analysts anticipate that First American Financial Corporation will post 6.8 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.55 dividend. The ex-dividend date was Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. First American Financial’s dividend payout ratio (DPR) is currently 33.79%.

Analysts Set New Price Targets

Several equities analysts have weighed in on FAF shares. Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research downgraded First American Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Barclays raised their target price on shares of First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods reduced their price target on shares of First American Financial from $87.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Finally, Stephens reaffirmed an “overweight” rating and set a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.25.

View Our Latest Analysis on First American Financial

Insider Buying and Selling at First American Financial

In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the completion of the transaction, the senior vice president directly owned 29,635 shares of the company’s stock, valued at $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction on Friday, April 24th. The shares were 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 in the company, valued at $1,695,854.16. This trade represents a 21.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by insiders.

First American Financial Profile

(Free Report)

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.

See Also

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:FAFFree Report).

Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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