Parker Kennedy Purchases 15,000 Shares of First American Financial (NYSE:FAF) Stock

First American Financial Corporation (NYSE:FAF) Director Parker Kennedy acquired 15,000 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were bought at an average cost of $67.17 per share, for a total transaction of $1,007,550.00. Following the transaction, the director directly owned 206,711 shares of the company’s stock, valued at approximately $13,884,777.87. This trade represents a 7.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

First American Financial Trading Up 0.6%

NYSE:FAF opened at $66.53 on Friday. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $68.75. The firm has a market cap of $6.78 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27. The stock has a fifty day moving average price of $63.36 and a 200 day moving average price of $63.73.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.50. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.80 billion. First American Financial had a return on equity of 11.93% and a net margin of 8.34%.First American Financial’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 EPS. Equities analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, March 9th. First American Financial’s payout ratio is 36.61%.

Analyst Ratings Changes

Several research firms have recently issued reports on FAF. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Barclays upped their price objective on First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Truist Financial increased their price objective on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.67.

Institutional Trading of First American Financial

Large investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its position in First American Financial by 3.9% during the second quarter. ProShare Advisors LLC now owns 4,561 shares of the insurance provider’s stock worth $280,000 after buying an additional 172 shares during the period. Naples Global Advisors LLC increased its holdings in shares of First American Financial by 2.4% in the 4th quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock valued at $461,000 after acquiring an additional 175 shares during the period. Maryland State Retirement & Pension System raised its position in First American Financial by 3.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock valued at $312,000 after purchasing an additional 180 shares during the last quarter. Inscription Capital LLC boosted its stake in First American Financial by 2.4% during the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 181 shares during the period. Finally, KLP Kapitalforvaltning AS grew its position in First American Financial by 0.9% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider’s stock worth $1,381,000 after purchasing an additional 200 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Company 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.