First American Financial Corporation $FAF Shares Bought by Reinhart Partners LLC.

Reinhart Partners LLC. grew its holdings in shares of First American Financial Corporation (NYSE:FAF) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,553,234 shares of the insurance provider’s stock after purchasing an additional 28,534 shares during the period. First American Financial comprises about 2.4% of Reinhart Partners LLC.’s portfolio, making the stock its 19th biggest position. Reinhart Partners LLC. owned about 1.52% of First American Financial worth $106,537,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in shares of First American Financial in the second quarter valued at approximately $16,714,000. GAMMA Investing LLC lifted its holdings in First American Financial by 9.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,696 shares of the insurance provider’s stock worth $116,000 after buying an additional 148 shares in the last quarter. Versant Capital Management Inc lifted its holdings in First American Financial by 12.0% during the 2nd quarter. Versant Capital Management Inc now owns 5,294 shares of the insurance provider’s stock worth $363,000 after buying an additional 566 shares in the last quarter. Bank of America Corp DE boosted its position in First American Financial by 42.1% in the 1st quarter. Bank of America Corp DE now owns 624,123 shares of the insurance provider’s stock valued at $37,628,000 after buying an additional 184,896 shares during the period. Finally, Amundi boosted its position in First American Financial by 68.4% in the 1st quarter. Amundi now owns 9,628 shares of the insurance provider’s stock valued at $580,000 after buying an additional 3,909 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Down 1.2%

First American Financial stock opened at $74.25 on Friday. The firm’s 50-day simple moving average is $70.06 and its 200 day simple moving average is $67.04. The firm has a market capitalization of $7.58 billion, a PE ratio of 10.28, a P/E/G ratio of 0.70 and a beta of 1.22. First American Financial Corporation has a 52 week low of $56.20 and a 52 week high of $79.87.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.28. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. On average, research analysts expect that First American Financial Corporation will post 7.02 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. First American Financial’s payout ratio is presently 30.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FAF shares. Zacks Research downgraded shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Truist Financial increased their price objective on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Benchmark began coverage on First American Financial in a research note on Tuesday, July 21st. They set a “buy” rating and a $85.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.60.

Insider Buying and Selling

In other news, CAO Steven A. Adams sold 3,253 shares of First American Financial stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the transaction, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at approximately $767,447.66. The trade was a 24.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

First American Financial Company 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.