Penserra Capital Management LLC Grows Stock Position in First American Financial Corporation $FAF

Penserra Capital Management LLC boosted its holdings in First American Financial Corporation (NYSE:FAF) by 29.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,677 shares of the insurance provider’s stock after acquiring an additional 3,129 shares during the period. Penserra Capital Management LLC’s holdings in First American Financial were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Boston Partners lifted its holdings in shares of First American Financial by 23.0% in the first quarter. Boston Partners now owns 4,692,258 shares of the insurance provider’s stock valued at $307,181,000 after purchasing an additional 876,874 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First American Financial by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,150,660 shares of the insurance provider’s stock valued at $272,406,000 after buying an additional 187,144 shares in the last quarter. Reinhart Partners LLC. lifted its stake in First American Financial by 1.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,217,263 shares of the insurance provider’s stock valued at $74,729,000 after buying an additional 13,286 shares in the last quarter. Northern Trust Corp grew its holdings in First American Financial by 3.2% during the 1st quarter. Northern Trust Corp now owns 1,063,232 shares of the insurance provider’s stock valued at $69,780,000 after buying an additional 32,610 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in First American Financial by 51.2% during the 1st quarter. AQR Capital Management LLC now owns 671,616 shares of the insurance provider’s stock valued at $44,058,000 after buying an additional 227,382 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Ratings Changes

FAF has been the topic of several recent research reports. Truist Financial upped their price objective on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Weiss Ratings upgraded First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Finally, Barclays raised their price objective on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.00.

First American Financial Stock Up 1.7%

NYSE:FAF opened at $64.14 on Wednesday. The company has a market cap of $6.54 billion, a P/E ratio of 13.79 and a beta of 1.24. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92. The firm’s 50 day moving average is $63.50 and its two-hundred day moving average is $61.40.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.42. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The business’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 EPS. Research analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 8th. First American Financial’s payout ratio is 47.31%.

First American Financial declared that its board has approved a share repurchase program on Wednesday, July 23rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.