Cambiar Investors LLC acquired a new stake in shares of First American Financial Corp (NYSE:FAF) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 61,753 shares of the insurance provider’s stock, valued at approximately $3,180,000. Cambiar Investors LLC owned approximately 0.06% of First American Financial as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Penserra Capital Management LLC purchased a new position in shares of First American Financial in the first quarter worth about $25,000. JOYN Advisors Inc. raised its stake in First American Financial by 540.0% during the fourth quarter. JOYN Advisors Inc. now owns 608 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 513 shares during the period. Cornerstone Advisors Inc. purchased a new position in First American Financial during the first quarter worth about $27,000. Executive Wealth Management LLC purchased a new position in First American Financial during the fourth quarter worth about $37,000. Finally, Oregon Public Employees Retirement Fund raised its stake in First American Financial by 4,404.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,973,445 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 1,929,636 shares during the period. 83.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of FAF traded up $0.14 during trading on Friday, reaching $52.99. 492,782 shares of the company traded hands, compared to its average volume of 563,942. First American Financial Corp has a twelve month low of $41.96 and a twelve month high of $58.29. The stock has a market cap of $5.91 billion, a PE ratio of 11.57, a P/E/G ratio of 1.01 and a beta of 0.93.
First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. First American Financial had a net margin of 8.83% and a return on equity of 14.51%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that First American Financial Corp will post 4.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, June 7th. First American Financial’s dividend payout ratio is presently 36.68%.
FAF has been the topic of a number of analyst reports. ValuEngine raised shares of First American Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Compass Point downgraded shares of First American Financial from a “buy” rating to a “neutral” rating and set a $57.88 target price on the stock. in a research note on Monday, April 29th. Piper Jaffray Companies raised shares of First American Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $67.00 in a research note on Monday, April 1st. Zacks Investment Research raised shares of First American Financial from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, April 16th. Finally, Barclays set a $58.00 target price on shares of First American Financial and gave the stock a “buy” rating in a research note on Friday, February 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $56.58.
In related news, insider Kenneth D. Degiorgio sold 26,658 shares of First American Financial stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $57.00, for a total value of $1,519,506.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher Michael Leavell sold 35,235 shares of First American Financial stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $54.44, for a total transaction of $1,918,193.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,293 shares of company stock valued at $3,519,235. Company insiders own 3.00% of the company’s stock.
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First American Financial Company Profile
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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