Horizon Investment Services LLC cut its stake in First American Financial Corp (NYSE:FAF) by 94.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,481 shares of the insurance provider’s stock after selling 89,550 shares during the quarter. Horizon Investment Services LLC’s holdings in First American Financial were worth $322,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Profund Advisors LLC increased its stake in shares of First American Financial by 9.5% in the 4th quarter. Profund Advisors LLC now owns 13,149 shares of the insurance provider’s stock worth $737,000 after acquiring an additional 1,141 shares in the last quarter. Swiss National Bank increased its stake in shares of First American Financial by 2.0% in the 4th quarter. Swiss National Bank now owns 188,600 shares of the insurance provider’s stock worth $10,569,000 after acquiring an additional 3,700 shares in the last quarter. Royce & Associates LP increased its stake in shares of First American Financial by 1.6% in the 4th quarter. Royce & Associates LP now owns 79,706 shares of the insurance provider’s stock worth $4,467,000 after acquiring an additional 1,219 shares in the last quarter. ARP Americas LP bought a new position in shares of First American Financial in the 4th quarter worth about $333,000. Finally, USA Financial Portformulas Corp bought a new position in shares of First American Financial in the 4th quarter worth about $822,000. Institutional investors and hedge funds own 84.03% of the company’s stock.
NYSE:FAF opened at $51.81 on Thursday. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 0.90 and a beta of 0.81. First American Financial Corp has a fifty-two week low of $42.86 and a fifty-two week high of $62.71.
First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. First American Financial had a net margin of 7.67% and a return on equity of 14.28%. First American Financial’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. equities research analysts predict that First American Financial Corp will post 4.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.93%. First American Financial’s dividend payout ratio is currently 55.27%.
FAF has been the subject of several research reports. Zacks Investment Research upgraded shares of First American Financial from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Monday, April 2nd. ValuEngine lowered shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Finally, Barclays decreased their price target on shares of First American Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $68.00.
In other First American Financial news, COO Christopher Michael Leavell sold 27,714 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $51.35, for a total transaction of $1,423,113.90. Following the completion of the sale, the chief operating officer now directly owns 168,919 shares in the company, valued at approximately $8,673,990.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.
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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