First American Financial Corporation (FAF) To Go Ex-Dividend on June 8th

First American Financial Corporation (NYSE:FAF) announced a quarterly dividend on Tuesday, May 12th. Investors of record on Monday, June 8th will be paid a dividend of 0.55 per share by the insurance provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, June 8th.

First American Financial has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. First American Financial has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First American Financial to earn $7.13 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 30.9%.

First American Financial Trading Down 1.4%

Shares of NYSE:FAF opened at $66.87 on Thursday. The company has a fifty day simple moving average of $64.68 and a 200 day simple moving average of $64.12. The firm has a market cap of $6.81 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.66 and a beta of 1.28. First American Financial has a 12-month low of $53.09 and a 12-month high of $71.47.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.27. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities research analysts forecast that First American Financial will post 6.72 EPS for the current fiscal year.

Insider Activity

In other news, Director Parker S. Kennedy purchased 44,841 shares of First American Financial stock in a transaction dated Tuesday, February 17th. The stock was bought at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares in the company, valued at $17,067,803.20. The trade was a 21.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the transaction, the director directly owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. This trade represents a 21.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On First American Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bar Harbor Wealth Management lifted its holdings in First American Financial by 52.4% in the fourth quarter. Bar Harbor Wealth Management now owns 135,649 shares of the insurance provider’s stock worth $8,334,000 after purchasing an additional 46,639 shares during the period. Allianz Asset Management GmbH lifted its holdings in First American Financial by 10.6% in the third quarter. Allianz Asset Management GmbH now owns 210,739 shares of the insurance provider’s stock worth $13,538,000 after purchasing an additional 20,188 shares during the period. Channing Capital Management LLC lifted its holdings in First American Financial by 16.9% in the third quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider’s stock worth $99,430,000 after purchasing an additional 224,277 shares during the period. Dimensional Fund Advisors LP lifted its holdings in First American Financial by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,293,573 shares of the insurance provider’s stock worth $275,816,000 after purchasing an additional 168,706 shares during the period. Finally, US Bancorp DE lifted its holdings in First American Financial by 656.0% in the third quarter. US Bancorp DE now owns 32,666 shares of the insurance provider’s stock worth $2,098,000 after purchasing an additional 28,345 shares during the period. 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.