Quantinno Capital Management LP Trims Stake in First American Financial Corporation $FAF

Quantinno Capital Management LP lessened its holdings in First American Financial Corporation (NYSE:FAF) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 603,070 shares of the insurance provider’s stock after selling 25,610 shares during the period. Quantinno Capital Management LP owned approximately 0.59% of First American Financial worth $36,359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in 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 valued at $355,508,000 after buying an additional 5,786,134 shares during the period. Norges Bank acquired a new position in First American Financial in the fourth quarter valued at about $75,011,000. Mendon Capital Advisors Corp purchased a new position in First American Financial during the first quarter worth about $71,680,000. Arrowstreet Capital Limited Partnership boosted its stake in First American Financial by 469.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,284,417 shares of the insurance provider’s stock worth $77,438,000 after buying an additional 1,058,949 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of First American Financial during the fourth quarter valued at about $63,693,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Stock Performance

Shares of FAF opened at $75.59 on Friday. The stock has a market capitalization of $7.72 billion, a PE ratio of 10.47, a P/E/G ratio of 0.73 and a beta of 1.23. First American Financial Corporation has a 1 year low of $56.20 and a 1 year high of $79.87. The company’s 50-day simple moving average is $69.13 and its 200-day simple moving average is $66.45.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, beating the consensus estimate of $1.80 by $0.28. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that First American Financial Corporation will post 7.02 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.55 dividend. The ex-dividend date was Monday, June 8th. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. First American Financial’s payout ratio is 30.47%.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of research analyst reports. Benchmark started coverage on shares of First American Financial in a research note on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Truist Financial boosted their target price on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Finally, Zacks Research lowered First American Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.60.

Insiders Place Their Bets

In related news, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the transaction, the senior vice president directly owned 29,635 shares in the company, valued at approximately $2,033,850.05. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Steven A. Adams sold 3,253 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by corporate insiders.

First American Financial Profile

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.