Entropy Technologies LP Purchases New Stake in First American Financial Corporation $FAF

Entropy Technologies LP acquired a new position in First American Financial Corporation (NYSE:FAF) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,526 shares of the insurance provider’s stock, valued at approximately $815,000.

Several other institutional investors have also recently added to or reduced their stakes in FAF. Equitable Trust Co. raised its holdings in shares of First American Financial by 2.3% during the first quarter. Equitable Trust Co. now owns 6,980 shares of the insurance provider’s stock worth $421,000 after purchasing an additional 160 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of First American Financial by 2.4% in the 4th quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock valued at $461,000 after buying an additional 175 shares during the period. Inscription Capital LLC boosted its holdings in shares of First American Financial by 2.4% in the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock valued at $469,000 after buying an additional 181 shares during the period. Danske Bank A S grew its position in shares of First American Financial by 28.6% during the 4th quarter. Danske Bank A S now owns 900 shares of the insurance provider’s stock valued at $55,000 after buying an additional 200 shares during the last quarter. Finally, Quarry LP grew its position in shares of First American Financial by 14.0% during the 4th quarter. Quarry LP now owns 1,658 shares of the insurance provider’s stock valued at $102,000 after buying an additional 203 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Insider Activity

In related news, CAO Steven A. Adams sold 3,253 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the sale, the chief accounting officer owned 10,234 shares of the company’s stock, valued at $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Lisa W. Cornehl sold 5,823 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the transaction, the senior vice president directly owned 29,635 shares in the company, valued at approximately $2,033,850.05. The trade was a 16.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

First American Financial Trading Up 3.8%

Shares of NYSE FAF opened at $79.18 on Wednesday. The stock has a 50 day simple moving average of $68.77 and a 200-day simple moving average of $66.22. The company has a market cap of $8.08 billion, a PE ratio of 10.97, a P/E/G ratio of 0.71 and a beta of 1.23. First American Financial Corporation has a 12-month low of $56.20 and a 12-month high of $79.38.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, beating the consensus estimate of $1.80 by $0.28. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm earned $1.53 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. Sell-side analysts forecast that First American Financial Corporation will post 7.02 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors 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 2.8%. The ex-dividend date was Monday, June 8th. First American Financial’s payout ratio is currently 30.47%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Keefe, Bruyette & Woods upped their target price on First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Benchmark initiated coverage on First American Financial in a research report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price target on the stock. Barclays boosted their price objective on First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Truist Financial increased their target price on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.60.

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.