Diversify Wealth Management LLC Purchases Shares of 7,332 First American Financial Corporation $FAF

Diversify Wealth Management LLC purchased a new position in First American Financial Corporation (NYSE:FAF) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,332 shares of the insurance provider’s stock, valued at approximately $442,000.

Other large investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. grew its stake in shares of First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 376 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in First American Financial during the 4th quarter worth about $27,000. Global Retirement Partners LLC increased its holdings in First American Financial by 1,107.5% during the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 443 shares during the period. Danske Bank A S bought a new position in First American Financial in the 3rd quarter worth about $45,000. Finally, IFP Advisors Inc grew its stake in First American Financial by 568.8% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock worth $46,000 after buying an additional 637 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

Insider Activity

In related news, SVP Lisa W. Cornehl sold 5,823 shares of the company’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 sale, the senior vice president directly owned 29,635 shares in the company, valued at approximately $2,033,850.05. This represents a 16.42% 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, Director Margaret M. Mccarthy sold 6,630 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. The trade was a 21.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FAF. Wall Street Zen lowered First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays boosted their target price on First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Truist Financial raised their price target on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a 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 report on Tuesday, June 23rd. Finally, Keefe, Bruyette & Woods lowered their price objective on First American Financial from $87.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

First American Financial Price Performance

First American Financial stock opened at $73.07 on Friday. First American Financial Corporation has a 1-year low of $55.78 and a 1-year high of $73.50. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.70 and a beta of 1.23. The business has a fifty day moving average price of $67.97 and a 200-day moving average price of $65.62.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.06 by $0.27. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities research analysts anticipate that First American Financial Corporation will post 6.75 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.55 dividend. The ex-dividend date was Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. First American Financial’s dividend payout ratio is presently 33.79%.

First American Financial Company 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.