First American Financial (NYSE:FAF) Director Parker Kennedy Acquires 15,000 Shares

First American Financial Corporation (NYSE:FAF) Director Parker Kennedy acquired 15,000 shares of the company’s stock in a transaction on Friday, February 13th. The stock was acquired at an average price of $67.17 per share, for a total transaction of $1,007,550.00. Following the completion of the purchase, the director owned 206,711 shares of the company’s stock, valued at $13,884,777.87. This trade represents a 7.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First American Financial Trading Down 2.7%

Shares of FAF traded down $1.84 during mid-day trading on Wednesday, hitting $66.16. 1,284,488 shares of the company’s stock were exchanged, compared to its average volume of 1,126,902. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $68.75. The business’s 50 day moving average is $63.32 and its two-hundred day moving average is $63.71. The firm has a market capitalization of $6.74 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.72 and a beta of 1.27.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.50. First American Financial had a return on equity of 11.93% and a net margin of 8.34%.The firm 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 posted $1.35 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, equities research analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. First American Financial’s payout ratio is presently 36.61%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Truist Financial boosted their price target on shares of First American Financial from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Finally, Barclays lifted their price objective on First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and an average target price of $77.67.

Institutional Trading of First American Financial

A number of institutional investors have recently added to or reduced their stakes in FAF. Boston Partners increased its holdings in First American Financial by 8.9% in the third quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after buying an additional 500,649 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of First American Financial by 4,485,375.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock worth $355,508,000 after acquiring an additional 5,786,134 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of First American Financial by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,391,185 shares of the insurance provider’s stock worth $269,799,000 after acquiring an additional 97,612 shares during the period. Capital Research Global Investors increased its stake in First American Financial by 3.3% in the 4th quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock valued at $209,868,000 after purchasing an additional 109,242 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in First American Financial by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,793,179 shares of the insurance provider’s stock worth $110,200,000 after purchasing an additional 19,752 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

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.