Voya Investment Management LLC Buys 460 Shares of First American Financial Corporation $FAF

Voya Investment Management LLC increased its stake in First American Financial Corporation (NYSE:FAF) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,896 shares of the insurance provider’s stock after purchasing an additional 460 shares during the period. Voya Investment Management LLC’s holdings in First American Financial were worth $846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in shares of First American Financial during the first quarter valued at approximately $28,000. Richardson Capital Management LLC bought a new position in shares of First American Financial during the first quarter valued at $39,000. Versant Capital Management Inc increased its holdings in shares of First American Financial by 645.7% during the first quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 833 shares in the last quarter. Ransom Advisory Ltd bought a new stake in First American Financial in the 1st quarter worth about $66,000. Finally, UMB Bank n.a. increased its holdings in First American Financial by 132.1% in the 1st quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider’s stock worth $80,000 after buying an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Insider Activity

In other news, Director Margaret M. Mccarthy sold 3,500 shares of First American Financial stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director directly owned 28,095 shares of the company’s stock, valued at $1,843,874.85. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is owned by corporate insiders.

First American Financial Price Performance

Shares of NYSE FAF opened at $65.31 on Thursday. The business has a fifty day moving average price of $63.87 and a 200 day moving average price of $61.49. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92. The stock has a market capitalization of $6.65 billion, a P/E ratio of 36.08 and a beta of 1.27.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.13. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $1.27 earnings per share. As a group, equities research analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial announced that its board has approved a share buyback plan on Wednesday, July 23rd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be paid a $0.55 dividend. This is a boost from First American Financial’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 22nd. First American Financial’s dividend payout ratio is presently 121.55%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FAF shares. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Barclays reduced their price objective on First American Financial from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their target price on First American Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.00.

About First American Financial

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.