Commonwealth Equity Services LLC raised its position in shares of First American Financial Corp (NYSE:FAF) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,301 shares of the insurance provider’s stock after purchasing an additional 307 shares during the quarter. Commonwealth Equity Services LLC’s holdings in First American Financial were worth $398,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc raised its position in First American Financial by 2.7% during the first quarter. Legal & General Group Plc now owns 323,367 shares of the insurance provider’s stock valued at $13,714,000 after buying an additional 8,385 shares during the period. Swiss National Bank increased its holdings in shares of First American Financial by 1.5% in the 1st quarter. Swiss National Bank now owns 217,900 shares of the insurance provider’s stock valued at $9,241,000 after purchasing an additional 3,300 shares during the period. Guggenheim Capital LLC lifted its position in shares of First American Financial by 11.6% in the first quarter. Guggenheim Capital LLC now owns 81,046 shares of the insurance provider’s stock worth $3,437,000 after purchasing an additional 8,419 shares in the last quarter. FDx Advisors Inc. acquired a new stake in shares of First American Financial during the first quarter worth approximately $87,000. Finally, Nisa Investment Advisors LLC grew its position in First American Financial by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 32,870 shares of the insurance provider’s stock valued at $1,578,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.
FAF stock opened at $52.01 on Wednesday. The firm has a 50 day moving average of $52.48 and a two-hundred day moving average of $49.79. First American Financial Corp has a 12 month low of $29.36 and a 12 month high of $66.78. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 9.14 and a beta of 1.05.
First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.30. First American Financial had a net margin of 10.05% and a return on equity of 14.27%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $1.64 EPS. First American Financial’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts expect that First American Financial Corp will post 4.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, September 4th. This represents a $1.76 annualized dividend and a dividend yield of 3.38%. First American Financial’s dividend payout ratio (DPR) is presently 30.56%.
FAF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Barclays increased their price objective on First American Financial from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, TheStreet upgraded First American Financial from a “c+” rating to a “b-” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.83.
First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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