Farther Finance Advisors LLC Has $112,000 Stock Position in First American Financial Corporation $FAF

Farther Finance Advisors LLC raised its stake in First American Financial Corporation (NYSE:FAF) by 576.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,819 shares of the insurance provider’s stock after buying an additional 1,550 shares during the period. Farther Finance Advisors LLC’s holdings in First American Financial were worth $112,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FAF. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First American Financial by 38.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,325 shares of the insurance provider’s stock worth $1,332,000 after purchasing an additional 5,889 shares during the period. GAMMA Investing LLC lifted its holdings in shares of First American Financial by 8,031.7% during the first quarter. GAMMA Investing LLC now owns 87,091 shares of the insurance provider’s stock worth $5,716,000 after purchasing an additional 86,020 shares during the period. Rhumbline Advisers lifted its holdings in shares of First American Financial by 1.2% during the first quarter. Rhumbline Advisers now owns 284,046 shares of the insurance provider’s stock worth $18,642,000 after purchasing an additional 3,427 shares during the period. Merit Financial Group LLC lifted its holdings in shares of First American Financial by 24.0% during the first quarter. Merit Financial Group LLC now owns 8,998 shares of the insurance provider’s stock worth $591,000 after purchasing an additional 1,739 shares during the period. Finally, Reinhart Partners LLC. lifted its holdings in shares of First American Financial by 15.5% during the first quarter. Reinhart Partners LLC. now owns 1,203,977 shares of the insurance provider’s stock worth $79,017,000 after purchasing an additional 161,819 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

First American Financial stock opened at $64.37 on Friday. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92. The stock has a market cap of $6.55 billion, a PE ratio of 35.56 and a beta of 1.27. The firm’s 50-day simple moving average is $64.77 and its 200 day simple moving average is $61.53.

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

First American Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a $0.55 dividend. The ex-dividend date was Monday, September 22nd. This is a positive change from First American Financial’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. First American Financial’s dividend payout ratio is presently 121.55%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of First American Financial in a research note on Saturday, September 27th. Keefe, Bruyette & Woods lifted their target price on shares of First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, Barclays decreased their price target on shares of First American Financial from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.00.

Insiders Place Their Bets

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

First American Financial 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.