Gabelli Funds LLC Acquires 19,600 Shares of First American Financial Corporation $FAF

Gabelli Funds LLC lifted its holdings in First American Financial Corporation (NYSE:FAFFree Report) by 24.7% in the 1st quarter, Holdings Channel reports. The firm owned 98,962 shares of the insurance provider’s stock after acquiring an additional 19,600 shares during the period. Gabelli Funds LLC’s holdings in First American Financial were worth $5,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Duncker Streett & Co. Inc. increased its holdings in First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after buying an additional 376 shares in the last quarter. V Square Quantitative Management LLC bought a new position in First American Financial during the 4th quarter valued at about $27,000. Global Retirement Partners LLC lifted its stake in First American Financial by 1,107.5% during the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 443 shares during the period. Danske Bank A S purchased a new stake in shares of First American Financial during the 3rd quarter valued at about $45,000. Finally, IFP Advisors Inc boosted its holdings in shares of First American Financial by 568.8% during the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 637 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Up 1.5%

First American Financial stock opened at $76.25 on Tuesday. First American Financial Corporation has a 52-week low of $56.20 and a 52-week high of $76.80. The company has a market cap of $7.79 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.71 and a beta of 1.23. The business has a 50-day simple moving average of $68.54 and a two-hundred day simple moving average of $66.09.

First American Financial (NYSE:FAFGet Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, topping 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 net margin of 9.33% and a return on equity of 13.31%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 EPS. Research analysts anticipate that First American Financial Corporation will post 6.91 EPS for the current fiscal year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 8th. First American Financial’s dividend payout ratio is currently 30.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial boosted their target price 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 cut First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Stephens restated an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.60.

View Our Latest Analysis on FAF

Insiders Place Their Bets

In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of the 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 transaction, the senior vice president directly owned 29,635 shares in the company, valued at approximately $2,033,850.05. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

About First American Financial

(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.

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

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