Algert Global LLC Increases Position in First American Financial Corporation $FAF

Algert Global LLC raised its holdings in shares of First American Financial Corporation (NYSE:FAF) by 13.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 136,860 shares of the insurance provider’s stock after purchasing an additional 16,070 shares during the period. Algert Global LLC owned 0.13% of First American Financial worth $8,792,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in First American Financial by 121.3% during the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after buying an additional 813 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 acquiring an additional 28,666 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 increased its holdings in shares of First American Financial by 182.5% during the first quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock valued at $4,435,000 after acquiring an additional 43,651 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of First American Financial by 11.3% in 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. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FAF. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Keefe, Bruyette & Woods raised their price objective 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. Truist Financial upped their target price on shares of First American Financial from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $78.50.

First American Financial Price Performance

First American Financial stock opened at $66.14 on Tuesday. First American Financial Corporation has a one year low of $53.09 and a one year high of $71.47. The business’s fifty day moving average is $65.01 and its 200 day moving average is $64.05. The stock has a market capitalization of $6.74 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 0.68 and a beta of 1.25.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 11.92% 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 previous year, the firm earned $1.35 EPS. As a group, sell-side analysts expect that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.55 per share. The ex-dividend date was 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 is 36.61%.

Insider Transactions at First American Financial

In related news, Director Parker S. Kennedy bought 44,841 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares of the company’s stock, valued at $17,067,803.20. This trade represents a 21.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

First American Financial 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.