First American Financial (NYSE:FAF) Director Buys $1,007,550.00 in Stock

First American Financial Corporation (NYSE:FAF) Director Parker Kennedy bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was bought at an average price of $67.17 per share, with a total value of $1,007,550.00. Following the completion of the acquisition, the director owned 206,711 shares of the company’s stock, valued at $13,884,777.87. This trade represents a 7.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First American Financial Stock Down 2.7%

NYSE FAF traded down $1.84 during trading hours on Wednesday, hitting $66.16. 1,284,488 shares of the company were exchanged, compared to its average volume of 1,126,902. The company has a 50 day moving average of $63.32 and a two-hundred day moving average of $63.71. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $68.75. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.72 and a beta of 1.27.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.50. First American Financial had a return on equity of 11.93% and a net margin of 8.34%.The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $1.35 EPS. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, equities research analysts predict 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. Investors of record on Monday, March 9th will be paid a $0.55 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s payout ratio is currently 36.61%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Barclays raised their price target on First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Stephens initiated coverage on First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Finally, 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. Four 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.67.

Institutional Trading of First American Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First American Financial by 4,485,375.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after purchasing an additional 5,786,134 shares during the last quarter. Capital Research Global Investors lifted its stake in First American Financial by 194.5% in the third quarter. Capital Research Global Investors now owns 3,306,583 shares of the insurance provider’s stock valued at $212,415,000 after buying an additional 2,183,960 shares during the last quarter. Norges Bank acquired a new stake in shares of First American Financial in the second quarter valued at approximately $77,143,000. Channing Capital Management LLC grew its position in shares of First American Financial by 875.1% during the second quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock worth $81,250,000 after acquiring an additional 1,187,787 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of First American Financial during the fourth quarter worth approximately $63,693,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

About First American Financial

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.