Hudson Bay Capital Management LP Sells 39,801 Shares of First American Financial Corporation $FAF

Hudson Bay Capital Management LP decreased its position in First American Financial Corporation (NYSE:FAF) by 29.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,814 shares of the insurance provider’s stock after selling 39,801 shares during the period. Hudson Bay Capital Management LP’s holdings in First American Financial were worth $6,091,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in shares of First American Financial by 10.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 210,739 shares of the insurance provider’s stock valued at $13,538,000 after buying an additional 20,188 shares during the last quarter. Channing Capital Management LLC increased its holdings in First American Financial by 16.9% in the 3rd quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider’s stock worth $99,430,000 after acquiring an additional 224,277 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in First American Financial by 129.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 64,774 shares of the insurance provider’s stock valued at $3,976,000 after acquiring an additional 36,485 shares during the period. Dimensional Fund Advisors LP raised its stake in First American Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,293,573 shares of the insurance provider’s stock valued at $275,816,000 after acquiring an additional 168,706 shares during the period. Finally, AXQ Capital LP lifted its holdings in First American Financial by 29.4% during the second quarter. AXQ Capital LP now owns 10,880 shares of the insurance provider’s stock valued at $668,000 after purchasing an additional 2,470 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on FAF. Truist Financial increased 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 report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. 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. Stephens raised shares of First American Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $81.00 in a report on Monday, March 2nd. Finally, Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

Insiders Place Their Bets

In related news, Director Parker S. Kennedy bought 44,841 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the transaction, the director directly owned 251,552 shares in the company, valued at $17,067,803.20. This trade represents a 21.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is owned by corporate insiders.

First American Financial Stock Performance

NYSE:FAF opened at $56.88 on Friday. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $71.47. The stock has a fifty day moving average of $65.02 and a 200 day moving average of $63.95. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 9.46, a P/E/G ratio of 0.60 and a beta of 1.25.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.50. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a return on equity of 11.92% 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 quarter last year, the firm posted $1.35 EPS. Equities analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is currently 36.61%.

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.