Steven Adams Sells 3,253 Shares of First American Financial (NYSE:FAF) Stock

First American Financial Corporation (NYSE:FAF) CAO Steven Adams sold 3,253 shares of First American Financial stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the sale, the chief accounting officer directly owned 10,234 shares in the company, valued at approximately $767,447.66. The trade was a 24.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

First American Financial Stock Down 1.3%

Shares of NYSE:FAF opened at $78.16 on Thursday. The company has a market cap of $7.98 billion, a P/E ratio of 10.83, a PEG ratio of 0.74 and a beta of 1.23. First American Financial Corporation has a 52 week low of $56.20 and a 52 week high of $79.87. The company has a 50-day moving average price of $68.98 and a 200 day moving average price of $66.35.

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

First American Financial Dividend Announcement

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 $0.55 dividend. The ex-dividend date was Monday, June 8th. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. First American Financial’s dividend payout ratio (DPR) is 30.47%.

Institutional Investors Weigh In On First American Financial

Several institutional investors and hedge funds have recently bought and sold shares of FAF. Duncker Streett & Co. Inc. boosted its holdings in shares of First American Financial by 616.4% in the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 376 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of First American Financial during the fourth quarter valued at $27,000. Global Retirement Partners LLC boosted its stake in First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 443 shares during the period. Danske Bank A S acquired a new position in First American Financial during the third quarter valued at $45,000. Finally, IFP Advisors Inc lifted 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 acquiring an additional 637 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Benchmark started coverage on shares of First American Financial in a research note on Tuesday, July 21st. They set a “buy” rating and a $85.00 price objective for the company. Barclays increased their target price on First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Wall Street Zen lowered First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Stephens restated an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.60.

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.