Parker Kennedy Buys 44,841 Shares of First American Financial (NYSE:FAF) Stock

First American Financial Corporation (NYSE:FAF) Director Parker Kennedy bought 44,841 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the purchase, the director owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. The trade was a 21.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

First American Financial Stock Performance

First American Financial stock opened at $66.53 on Friday. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $68.75. The firm’s 50 day moving average price is $63.36 and its two-hundred day moving average price is $63.73. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27.

First American Financial (NYSE:FAF) last released its quarterly earnings data 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 business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a return on equity of 11.93% and a net margin of 8.34%.The company’s revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. As a group, equities analysts predict that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is currently 36.61%.

Institutional Trading of First American Financial

A number of institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of First American Financial by 121.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 813 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in First American Financial by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock worth $19,233,000 after buying an additional 28,666 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First American Financial by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock valued at $27,180,000 after acquiring an additional 27,600 shares in the last quarter. Jane Street Group LLC grew its position in First American Financial by 182.5% in the first quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock worth $4,435,000 after acquiring an additional 43,651 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of First American Financial by 11.3% during the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Stephens began coverage on shares of First American Financial in a research note on Friday, November 14th. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Finally, Barclays raised their target price 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. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.67.

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.