Sontag Advisory LLC acquired a new stake in First American Financial Corp (NYSE:FAF) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,735 shares of the insurance provider’s stock, valued at approximately $200,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FAF. ARP Americas LP raised its holdings in First American Financial by 75.5% in the 2nd quarter. ARP Americas LP now owns 52,987 shares of the insurance provider’s stock valued at $2,845,000 after acquiring an additional 22,800 shares during the period. Prudential Financial Inc. increased its holdings in shares of First American Financial by 46.9% during the second quarter. Prudential Financial Inc. now owns 741,370 shares of the insurance provider’s stock worth $39,811,000 after purchasing an additional 236,624 shares during the period. Teza Capital Management LLC bought a new position in shares of First American Financial during the second quarter worth approximately $284,000. Weaver Consulting Group bought a new position in shares of First American Financial during the first quarter worth approximately $69,000. Finally, Nordea Investment Management AB increased its holdings in shares of First American Financial by 1.2% during the first quarter. Nordea Investment Management AB now owns 91,374 shares of the insurance provider’s stock worth $4,706,000 after purchasing an additional 1,115 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.
In related news, COO Christopher Michael Leavell sold 10,006 shares of First American Financial stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $57.99, for a total transaction of $580,247.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by company insiders.
First American Financial stock traded down $1.29 during mid-day trading on Friday, reaching $57.37. The company had a trading volume of 42,748 shares, compared to its average volume of 611,757. First American Financial Corp has a fifty-two week low of $41.96 and a fifty-two week high of $60.48. The company has a market cap of $6.64 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.09 and a beta of 0.90. The business has a fifty day simple moving average of $57.86 and a 200 day simple moving average of $54.65.
First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.23. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. First American Financial had a net margin of 9.36% and a return on equity of 14.77%. First American Financial’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. Sell-side analysts predict that First American Financial Corp will post 4.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, September 6th. First American Financial’s dividend payout ratio is presently 36.68%.
Several research analysts have recently commented on the stock. Compass Point set a $60.00 target price on shares of First American Financial and gave the stock a “hold” rating in a report on Friday, July 26th. Piper Jaffray Companies set a $68.00 target price on shares of First American Financial and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays set a $68.00 target price on shares of First American Financial and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Susquehanna Bancshares assumed coverage on shares of First American Financial in a report on Wednesday, June 19th. They set a “positive” rating and a $73.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.00.
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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