First American Financial Corporation $FAF Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lowered its stake in shares of First American Financial Corporation (NYSE:FAF) by 38.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,116 shares of the insurance provider’s stock after selling 13,055 shares during the period. ARGA Investment Management LP’s holdings in First American Financial were worth $1,273,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FAF. Duncker Streett & Co. Inc. raised its position in First American Financial by 616.4% in the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 376 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of First American Financial during the fourth quarter worth $27,000. Global Retirement Partners LLC boosted its position in shares of First American Financial by 1,107.5% during the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after buying an additional 443 shares during the period. Danske Bank A S acquired a new stake in shares of First American Financial in the third quarter valued at $45,000. Finally, IFP Advisors Inc grew its stake in shares of First American Financial by 568.8% in the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after buying an additional 637 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Activity

In related news, Director Margaret M. Mccarthy sold 6,630 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the sale, the director directly owned 24,024 shares in the company, valued at approximately $1,695,854.16. This represents a 21.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lisa W. Cornehl sold 5,823 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the completion of the sale, the senior vice president directly owned 29,635 shares in the company, valued at approximately $2,033,850.05. This trade represents a 16.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.50% of the company’s stock.

First American Financial Trading Down 1.4%

First American Financial stock opened at $69.29 on Friday. The firm has a market capitalization of $7.06 billion, a P/E ratio of 10.64, a P/E/G ratio of 0.68 and a beta of 1.23. First American Financial Corporation has a twelve month low of $54.19 and a twelve month high of $71.93. The stock’s fifty day simple moving average is $67.87 and its 200-day simple moving average is $65.29.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business posted $0.84 earnings per share. First American Financial’s revenue was up 16.2% compared to the same quarter last year. Sell-side analysts predict that First American Financial Corporation will post 6.75 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.2%. First American Financial’s dividend payout ratio (DPR) is currently 33.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FAF shares. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Stephens restated an “overweight” rating and set a $84.00 target price on shares of First American Financial in a report on Friday, June 12th. Truist Financial lifted their target price on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Zacks Research lowered shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, First American Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

About First American Financial

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.