Hudson Bay Capital Management LP Has $6.09 Million Position in First American Financial Corporation $FAF

Hudson Bay Capital Management LP lowered its stake in First American Financial Corporation (NYSE:FAF) by 29.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,814 shares of the insurance provider’s stock after selling 39,801 shares during the quarter. Hudson Bay Capital Management LP owned 0.09% of First American Financial worth $6,091,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FAF. Capital Research Global Investors grew its holdings in First American Financial by 194.5% in the third quarter. Capital Research Global Investors now owns 3,306,583 shares of the insurance provider’s stock worth $212,415,000 after purchasing an additional 2,183,960 shares during the period. Norges Bank acquired a new position in shares of First American Financial during the second quarter valued at about $77,143,000. Channing Capital Management LLC raised its holdings in shares of First American Financial by 875.1% during the second quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock valued at $81,250,000 after purchasing an additional 1,187,787 shares during the period. Boston Partners boosted its position in shares of First American Financial by 20.0% during the 2nd quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after purchasing an additional 940,687 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new position in shares of First American Financial during the 2nd quarter worth about $47,600,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Transactions at First American Financial

In related news, Director Parker S. Kennedy acquired 44,841 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This represents a 21.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

FAF has been the subject of a number of research analyst reports. Truist Financial boosted their target price on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Barclays raised their price objective on First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods boosted their price objective on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Finally, Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

First American Financial Trading Down 2.3%

Shares of FAF opened at $56.88 on Friday. The stock has a 50 day moving average of $65.02 and a 200 day moving average of $63.95. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.60 and a beta of 1.25. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $71.47.

First American Financial (NYSE:FAF) last posted its quarterly earnings data 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 11.92% and a net margin of 8.34%.The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The business’s revenue was up 21.6% on a year-over-year basis. As a group, equities research analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.55 per share. The ex-dividend date was Monday, March 9th. This represents a $2.20 annualized dividend and a yield of 3.9%. First American Financial’s dividend payout ratio is presently 36.61%.

About First American Financial

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.