Waverly Advisors LLC Takes Position in First American Financial Corporation $FAF

Waverly Advisors LLC bought a new position in First American Financial Corporation (NYSE:FAF) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 128,000 shares of the insurance provider’s stock, valued at approximately $7,717,000. Waverly Advisors LLC owned 0.13% of First American Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Duncker Streett & Co. Inc. increased its stake 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 valued at $26,000 after buying an additional 376 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of First American Financial during the 4th quarter valued at $27,000. Global Retirement Partners LLC boosted its stake in shares of 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 buying an additional 443 shares during the period. Danske Bank A S purchased a new position in shares of First American Financial during the 3rd quarter valued at $45,000. Finally, IFP Advisors Inc grew 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 in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Insider Activity at First American Financial

In other news, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial 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 owned 29,635 shares of the company’s stock, valued at $2,033,850.05. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

First American Financial Price Performance

NYSE FAF opened at $76.25 on Tuesday. First American Financial Corporation has a fifty-two week low of $56.20 and a fifty-two week high of $76.80. The stock’s 50-day moving average is $68.54 and its two-hundred day moving average is $66.09. The firm has a market cap of $7.79 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 0.71 and a beta of 1.23.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.28. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.03 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 EPS. On average, equities analysts expect that First American Financial Corporation will post 6.91 EPS for the current year.

First American Financial Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, June 8th. First American Financial’s dividend payout ratio (DPR) is 30.47%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FAF. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Benchmark started coverage on First American Financial in a research note on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price target for the company. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays increased their price objective on First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Truist Financial raised 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 report on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.60.

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.