Corient Private Wealth LLC Grows Position in First American Financial Corporation $FAF

Corient Private Wealth LLC boosted its position in shares of First American Financial Corporation (NYSE:FAF) by 3.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 872,826 shares of the insurance provider’s stock after acquiring an additional 32,507 shares during the quarter. Corient Private Wealth LLC’s holdings in First American Financial were worth $53,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in shares of First American Financial by 8.9% in the third quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after acquiring an additional 500,649 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of First American Financial by 4,485,375.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after acquiring an additional 5,786,134 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of First American Financial by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,391,185 shares of the insurance provider’s stock valued at $269,799,000 after acquiring an additional 97,612 shares during the period. Capital Research Global Investors increased its holdings in shares of First American Financial by 3.3% in the 4th quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock valued at $209,868,000 after acquiring an additional 109,242 shares during the period. Finally, Geode Capital Management LLC raised its position in First American Financial by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,793,179 shares of the insurance provider’s stock valued at $110,200,000 after purchasing an additional 19,752 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FAF shares. Truist Financial increased their price target on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Zacks Research upgraded shares of First American Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Stephens reiterated an “overweight” rating and set a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Weiss Ratings raised First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 22nd. Finally, Barclays raised their price target on First American Financial from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, First American Financial presently has a consensus rating of “Buy” and a consensus target price of $82.50.

First American Financial Price Performance

NYSE:FAF opened at $68.73 on Monday. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. The firm’s fifty day moving average price is $67.12 and its 200 day moving average price is $64.77. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $71.47.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. First American Financial’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, analysts expect that First American Financial Corporation will post 6.81 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, June 8th. First American Financial’s payout ratio is 33.79%.

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.