First American Financial Corp (NYSE:FAF) – Equities research analysts at SunTrust Banks upped their Q2 2018 earnings per share estimates for shares of First American Financial in a research report issued to clients and investors on Friday. SunTrust Banks analyst M. Hughes now anticipates that the insurance provider will post earnings of $1.26 per share for the quarter, up from their previous forecast of $1.08. SunTrust Banks also issued estimates for First American Financial’s Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.15 EPS and Q1 2019 earnings at $0.69 EPS.
A number of other brokerages also recently commented on FAF. Zacks Investment Research upgraded First American Financial from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Thursday, December 28th. Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. Finally, Barclays boosted their target price on First American Financial from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $54.00.
First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. First American Financial had a return on equity of 14.30% and a net margin of 4.88%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. First American Financial’s revenue for the quarter was up .7% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.45%. First American Financial’s dividend payout ratio (DPR) is currently 60.08%.
In other First American Financial news, CFO Mark Edward Seaton sold 9,981 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $54.87, for a total value of $547,657.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher Michael Leavell sold 75,843 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $55.25, for a total value of $4,190,325.75. The disclosure for this sale can be found here. Insiders sold 193,161 shares of company stock worth $10,639,325 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.
Large investors have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new stake in shares of First American Financial in the fourth quarter worth about $129,000. Quantbot Technologies LP lifted its position in shares of First American Financial by 78.1% in the second quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock worth $136,000 after buying an additional 1,342 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of First American Financial in the third quarter worth about $190,000. Verition Fund Management LLC acquired a new stake in shares of First American Financial in the second quarter worth about $203,000. Finally, Garner Asset Management Corp acquired a new stake in shares of First American Financial in the second quarter worth about $206,000. 83.38% of the stock is owned by institutional investors.
About First American Financial
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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