Bank of Montreal Can increased its stake in shares of First American Financial Corp (NYSE:FAF) by 118.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,069 shares of the insurance provider’s stock after buying an additional 21,208 shares during the quarter. Bank of Montreal Can’s holdings in First American Financial were worth $2,015,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in FAF. BlackRock Inc. grew its holdings in First American Financial by 5.7% during the second quarter. BlackRock Inc. now owns 10,865,847 shares of the insurance provider’s stock worth $561,982,000 after buying an additional 586,268 shares in the last quarter. Principal Financial Group Inc. grew its holdings in First American Financial by 70.7% during the first quarter. Principal Financial Group Inc. now owns 966,832 shares of the insurance provider’s stock worth $56,733,000 after buying an additional 400,378 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in First American Financial by 791.4% during the second quarter. BNP Paribas Arbitrage SA now owns 440,727 shares of the insurance provider’s stock worth $22,794,000 after buying an additional 391,283 shares in the last quarter. Victory Capital Management Inc. grew its holdings in First American Financial by 23.3% during the second quarter. Victory Capital Management Inc. now owns 2,031,575 shares of the insurance provider’s stock worth $105,073,000 after buying an additional 384,319 shares in the last quarter. Finally, First Quadrant L P CA grew its holdings in First American Financial by 44.0% during the second quarter. First Quadrant L P CA now owns 540,352 shares of the insurance provider’s stock worth $27,947,000 after buying an additional 165,229 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.
FAF stock opened at $46.56 on Friday. First American Financial Corp has a 1-year low of $41.96 and a 1-year high of $62.71. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.78 and a beta of 0.84.
First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.02). First American Financial had a return on equity of 13.68% and a net margin of 10.39%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. As a group, equities analysts expect that First American Financial Corp will post 4.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 10th will be given a $0.42 dividend. The ex-dividend date is Friday, December 7th. This represents a $1.68 annualized dividend and a yield of 3.61%. First American Financial’s dividend payout ratio is currently 61.09%.
In other First American Financial news, insider Matthew F. Wajner sold 4,982 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $57.29, for a total value of $285,418.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kenneth D. Degiorgio sold 13,871 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $57.25, for a total value of $794,114.75. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on the company. Piper Jaffray Companies upped their price target on First American Financial from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Zacks Investment Research downgraded First American Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday. ValuEngine cut First American Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Finally, Keefe, Bruyette & Woods raised First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $57.50.
First American Financial Profile
First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.
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