Pendal Group Ltd Raises Stock Holdings in First American Financial Corp (NYSE:FAF)

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Pendal Group Ltd lifted its holdings in shares of First American Financial Corp (NYSE:FAF) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,857 shares of the insurance provider’s stock after purchasing an additional 2,650 shares during the quarter. Pendal Group Ltd’s holdings in First American Financial were worth $2,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FAF. Penserra Capital Management LLC purchased a new position in shares of First American Financial during the first quarter worth about $25,000. Cornerstone Advisors Inc. purchased a new position in shares of First American Financial during the first quarter worth about $27,000. Quantamental Technologies LLC grew its holdings in shares of First American Financial by 330.0% during the first quarter. Quantamental Technologies LLC now owns 860 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 660 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of First American Financial by 1,170.5% during the first quarter. Quadrant Capital Group LLC now owns 991 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 913 shares in the last quarter. Finally, Bremer Bank National Association purchased a new position in shares of First American Financial during the first quarter worth about $61,000. 83.10% of the stock is owned by institutional investors.

FAF traded up $0.75 during midday trading on Thursday, hitting $56.82. The stock had a trading volume of 150,051 shares, compared to its average volume of 634,414. The stock has a market capitalization of $6.43 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.07 and a beta of 0.91. The company’s fifty day moving average is $55.68. First American Financial Corp has a 1 year low of $41.96 and a 1 year high of $58.82.

First American Financial (NYSE:FAF) last issued its earnings results on Thursday, July 25th. The insurance provider reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.23. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. First American Financial had a return on equity of 14.77% and a net margin of 9.36%. First American Financial’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Analysts anticipate that First American Financial Corp will post 4.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, September 6th. First American Financial’s dividend payout ratio is currently 36.68%.

In other First American Financial news, COO Christopher Michael Leavell sold 10,006 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $57.99, for a total value of $580,247.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Several research analysts have recently commented on FAF shares. Compass Point set a $60.00 price objective on First American Financial and gave the stock a “hold” rating in a report on Friday, July 26th. Piper Jaffray Companies set a $68.00 price objective on First American Financial and gave the stock a “buy” rating in a report on Friday, July 26th. Susquehanna Bancshares began coverage on First American Financial in a report on Wednesday, June 19th. They set a “positive” rating and a $73.00 price objective for the company. Finally, Barclays set a $68.00 target price on First American Financial and gave the stock a “buy” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $66.00.

About First American Financial

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

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