QS Investors LLC increased its position in First American Financial Corp (NYSE:FAF) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,042 shares of the insurance provider’s stock after acquiring an additional 4,135 shares during the period. QS Investors LLC owned approximately 0.10% of First American Financial worth $5,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of FAF. Crossmark Global Holdings Inc. purchased a new position in First American Financial in the 3rd quarter worth $789,000. State Board of Administration of Florida Retirement System raised its stake in First American Financial by 11.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 145,208 shares of the insurance provider’s stock worth $7,256,000 after acquiring an additional 14,923 shares during the last quarter. Stevens Capital Management LP purchased a new position in First American Financial in the 3rd quarter worth $733,000. Principal Financial Group Inc. raised its stake in First American Financial by 11.2% in the 3rd quarter. Principal Financial Group Inc. now owns 523,078 shares of the insurance provider’s stock worth $26,138,000 after acquiring an additional 52,632 shares during the last quarter. Finally, Swiss National Bank raised its stake in First American Financial by 0.8% in the 3rd quarter. Swiss National Bank now owns 184,900 shares of the insurance provider’s stock worth $9,239,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 84.91% of the company’s stock.
A number of equities analysts have weighed in on FAF shares. Zacks Investment Research lowered First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. ValuEngine upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reduced their price objective on First American Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Finally, Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $57.33.
First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.04. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.45 billion. First American Financial had a return on equity of 13.92% and a net margin of 7.33%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. analysts expect that First American Financial Corp will post 4.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.55%. First American Financial’s payout ratio is currently 40.43%.
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First American Financial Profile
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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