Davis Asset Management L.P. Acquires 400,000 Shares of First American Financial Corporation $FAF

Davis Asset Management L.P. raised its holdings in shares of First American Financial Corporation (NYSE:FAF) by 36.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,500,000 shares of the insurance provider’s stock after purchasing an additional 400,000 shares during the quarter. First American Financial accounts for approximately 3.3% of Davis Asset Management L.P.’s investment portfolio, making the stock its 13th largest holding. Davis Asset Management L.P. owned approximately 1.47% of First American Financial worth $92,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Naples Global Advisors LLC lifted its position in shares of First American Financial by 2.4% during the fourth quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock worth $461,000 after purchasing an additional 175 shares during the last quarter. Inscription Capital LLC raised its holdings in shares of First American Financial by 2.4% in the fourth quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock valued at $469,000 after acquiring an additional 181 shares in the last quarter. Danske Bank A S raised its holdings in shares of First American Financial by 28.6% in the fourth quarter. Danske Bank A S now owns 900 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 200 shares in the last quarter. Advisors Capital Management LLC raised its holdings in shares of First American Financial by 0.3% in the fourth quarter. Advisors Capital Management LLC now owns 68,189 shares of the insurance provider’s stock valued at $4,190,000 after acquiring an additional 211 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of First American Financial by 33.0% in the third quarter. Clearstead Advisors LLC now owns 859 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 213 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

Insider Transactions at First American Financial

In other news, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $70.59, for a total transaction of $468,011.70. Following the sale, the director owned 24,024 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lisa W. Cornehl sold 5,823 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the sale, the senior vice president owned 29,635 shares in the company, valued at $2,033,850.05. The trade was a 16.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 22nd. Stephens restated an “overweight” rating and issued a $84.00 price objective on shares of First American Financial in a report on Friday. Barclays lifted their price objective on First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $82.50.

First American Financial Stock Performance

Shares of First American Financial stock opened at $65.69 on Friday. The company has a market capitalization of $6.69 billion, a PE ratio of 10.09, a P/E/G ratio of 0.62 and a beta of 1.24. The company has a 50-day simple moving average of $66.35 and a two-hundred day simple moving average of $64.70. First American Financial Corporation has a one year low of $53.09 and a one year high of $71.47.

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

First American Financial Dividend Announcement

The company also recently announced 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 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 currently 33.79%.

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.