Davis Asset Management L.P. Raises Holdings in First American Financial Corporation $FAF

Davis Asset Management L.P. lifted its holdings in shares of First American Financial Corporation (NYSE:FAF) by 36.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,500,000 shares of the insurance provider’s stock after acquiring an additional 400,000 shares during the period. First American Financial accounts for approximately 3.3% of Davis Asset Management L.P.’s holdings, making the stock its 13th biggest holding. Davis Asset Management L.P.’s holdings in First American Financial were worth $92,160,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Boston Partners boosted its position in First American Financial by 8.9% in the third quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after buying an additional 500,649 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in First American Financial by 4,485,375.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after buying an additional 5,786,134 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in First American Financial by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,391,185 shares of the insurance provider’s stock valued at $269,799,000 after buying an additional 97,612 shares during the last quarter. Capital Research Global Investors boosted its position in First American Financial by 3.3% in the fourth quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock valued at $209,868,000 after buying an additional 109,242 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in First American Financial by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,793,179 shares of the insurance provider’s stock valued at $110,200,000 after buying an additional 19,752 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Trading Up 1.3%

Shares of NYSE:FAF opened at $65.69 on Friday. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $71.47. The company has a market capitalization of $6.69 billion, a PE ratio of 10.09, a PEG ratio of 0.62 and a beta of 1.24. The business has a 50 day moving average of $66.35 and a two-hundred day moving average of $64.70.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $0.84 earnings per share. First American Financial’s revenue for the quarter was up 16.2% on a year-over-year basis. Equities research analysts predict that First American Financial Corporation will post 6.81 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s payout ratio is presently 33.79%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FAF. Weiss Ratings upgraded First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Barclays upped their target price on First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Zacks Research upgraded First American Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Truist Financial upped their target price on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Stephens reiterated an “overweight” rating and issued a $84.00 target price on shares of First American Financial in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $82.50.

Insider Buying and Selling

In other First American Financial news, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $70.59, for a total value of $468,011.70. Following the completion of the transaction, the director directly owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. The trade was a 21.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Lisa W. Cornehl sold 5,823 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the transaction, the senior vice president directly owned 29,635 shares of the company’s stock, valued at $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% 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.