First American Financial (NYSE:FAF) Director Parker Kennedy Purchases 15,000 Shares

First American Financial Corporation (NYSE:FAF) Director Parker Kennedy bought 15,000 shares of First American Financial stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $67.17 per share, for a total transaction of $1,007,550.00. Following the acquisition, the director owned 206,711 shares in the company, valued at approximately $13,884,777.87. This represents a 7.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First American Financial Stock Down 2.7%

Shares of FAF stock opened at $66.16 on Thursday. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $68.75. The business has a fifty day simple moving average of $63.32 and a 200 day simple moving average of $63.71. The company has a market cap of $6.74 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.72 and a beta of 1.27.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.49 by $0.50. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.80 billion. First American Financial had a return on equity of 11.93% and a net margin of 8.34%.The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 earnings per share. As a group, equities research analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, March 9th. First American Financial’s dividend payout ratio is presently 36.61%.

Institutional Investors Weigh In On First American Financial

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in First American Financial by 121.3% during the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 813 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of First American Financial by 10.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock valued at $19,233,000 after purchasing an additional 28,666 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in First American Financial by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock worth $27,180,000 after purchasing an additional 27,600 shares during the period. Jane Street Group LLC grew its stake in First American Financial by 182.5% during the first quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock worth $4,435,000 after purchasing an additional 43,651 shares during the period. Finally, Focus Partners Wealth increased its holdings in First American Financial by 11.3% in the first quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 435 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial News Summary

Here are the key news stories impacting First American Financial this week:

• Positive Sentiment: Director insider purchases — Parker S. Kennedy bought a sizable stake this week (multiple purchases totaling roughly 59,841 shares, ~ $4M at ~ $67/share), increasing his ownership and signaling management confidence. First American Financial director buys $4m in FAF stock SEC Filing: Insider Ownership
• Positive Sentiment: Analyst upgrade/price-target raise — Truist raised its price target to $82 and reiterated a Buy rating, implying meaningful upside vs. recent levels; analyst backing can attract buying from institutional investors. FAF price target raised by Truist
• Positive Sentiment: Positive thematic coverage — recent Zacks and MSN pieces profile FAF as a long-term value play (pointing to attractive valuation, solid recent earnings and margin/revenue improvements), which can support longer-horizon demand. Why First American Financial (FAF) is a Top Value Stock for the Long-Term — Zacks Why First American Financial (FAF) is a top value stock for the long term — MSN
• Neutral Sentiment: Near-term price action — despite fundamentally positive items above, shares are trading down intraday; that divergence suggests short-term flows (profit-taking, broader market weakness or sector rotation) are outweighing headline-driven buying today.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FAF. Barclays upped their target price on First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Truist Financial raised their price objective on shares of First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Finally, Stephens initiated coverage on shares of First American Financial in a report on Friday, November 14th. They set an “equal weight” rating on the stock. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and an average target price of $77.67.

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.