First American Financial (NYSE:FAF) Director Purchases $3,042,461.85 in Stock

First American Financial Corporation (NYSE:FAF) Director Parker Kennedy acquired 44,841 shares of the stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the transaction, the director directly owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This represents a 21.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First American Financial Price Performance

Shares of NYSE:FAF traded down $1.84 during trading on Wednesday, hitting $66.16. 1,284,488 shares of the company’s stock were exchanged, compared to its average volume of 1,126,902. The business’s 50-day simple moving average is $63.32 and its 200 day simple moving average is $63.71. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.72 and a beta of 1.27. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $68.75.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.50. First American Financial had a return on equity of 11.93% and a net margin of 8.34%.The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, sell-side analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. First American Financial’s dividend payout ratio is currently 36.61%.

Hedge Funds Weigh In On First American Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in First American Financial in the 4th quarter worth about $27,000. Global Retirement Partners LLC boosted its position in First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after buying an additional 443 shares during the period. SJS Investment Consulting Inc. grew its stake in First American Financial by 2,887.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of First American Financial during the second quarter worth approximately $35,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of First American Financial during the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FAF. Stephens began coverage on shares of First American Financial in a research note on Friday, November 14th. They issued an “equal weight” rating on the stock. Barclays lifted their target price on First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Keefe, Bruyette & Woods increased their price target on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and an average target price of $77.67.

First American Financial Company Profile

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.