Key Points
- First American Financial CAO Steven Adams sold 3,253 shares for approximately $243,942, reducing his direct holdings by 24.12% to 10,234 shares.
- The company reported a strong quarter, with EPS of $2.08 exceeding estimates of $1.80 and revenue of $2.11 billion rising 15% year over year.
- FAF pays a quarterly dividend of $0.55 per share, equivalent to a 2.8% yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $84.60.
First American Financial Corporation (NYSE:FAF - Get Free Report) CAO Steven Adams sold 3,253 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares of the company's stock, valued at $767,447.66. This trade represents a 24.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
First American Financial Stock Up 3.8%
NYSE:FAF opened at $79.18 on Wednesday. The stock's 50-day simple moving average is $68.77 and its 200 day simple moving average is $66.22. The firm has a market capitalization of $8.08 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.71 and a beta of 1.23. First American Financial Corporation has a twelve month low of $56.20 and a twelve month high of $79.38.
First American Financial (NYSE:FAF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 13.31% and a net margin of 9.33%.The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. On average, analysts anticipate that First American Financial Corporation will post 7.02 EPS 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 issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. First American Financial's payout ratio is 30.47%.
Institutional Investors Weigh In On First American Financial
Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of First American Financial by 4,485,375.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider's stock worth $355,508,000 after acquiring an additional 5,786,134 shares during the last quarter. Norges Bank bought a new stake in First American Financial in the fourth quarter valued at approximately $75,011,000. Mendon Capital Advisors Corp acquired a new stake in First American Financial during the 1st quarter valued at approximately $71,680,000. Arrowstreet Capital Limited Partnership increased its position in First American Financial by 469.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,284,417 shares of the insurance provider's stock valued at $77,438,000 after purchasing an additional 1,058,949 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in First American Financial during the 4th quarter worth approximately $63,693,000. Institutional investors and hedge funds own 89.05% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on FAF shares. 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. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Stephens reiterated an "overweight" rating and issued a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Wall Street Zen cut First American Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Benchmark started coverage on First American Financial in a report on Tuesday, July 21st. They set a "buy" rating and a $85.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $84.60.
View Our Latest Stock Report on FAF
About First American Financial
(
Get 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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