Lakewood Capital Management LP Buys 21,000 Shares of First American Financial Corporation $FAF

Lakewood Capital Management LP increased its stake in shares of First American Financial Corporation (NYSE:FAF) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 760,604 shares of the insurance provider’s stock after buying an additional 21,000 shares during the quarter. First American Financial accounts for about 3.7% of Lakewood Capital Management LP’s investment portfolio, making the stock its 7th largest position. Lakewood Capital Management LP owned 0.75% of First American Financial worth $48,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC lifted its position in shares of First American Financial by 3.9% in the second quarter. ProShare Advisors LLC now owns 4,561 shares of the insurance provider’s stock worth $280,000 after purchasing an additional 172 shares in the last quarter. Maryland State Retirement & Pension System grew its position in First American Financial by 3.9% in the third quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock valued at $312,000 after purchasing an additional 180 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in First American Financial by 0.9% in the third quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider’s stock valued at $1,381,000 after purchasing an additional 200 shares in the last quarter. Clearstead Advisors LLC increased its stake in First American Financial by 33.0% in the 3rd quarter. Clearstead Advisors LLC now owns 859 shares of the insurance provider’s stock valued at $55,000 after buying an additional 213 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in First American Financial by 0.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 45,932 shares of the insurance provider’s stock worth $2,820,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of FAF stock opened at $65.70 on Friday. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $71.47. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.66 and a beta of 1.25. The firm’s 50-day moving average is $64.93 and its 200-day moving average is $64.08.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.50. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.First American Financial’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. Sell-side analysts predict that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

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

Insider Buying and Selling at First American Financial

In other First American Financial news, Director Parker S. Kennedy purchased 44,841 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the purchase, the director owned 251,552 shares in the company, valued at approximately $17,067,803.20. The trade was a 21.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FAF shares. Barclays increased their price objective on shares of First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Stephens raised First American Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $81.00 in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

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.