Rhumbline Advisers increased its stake in shares of First American Financial Corp (NYSE:FAF) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 260,375 shares of the insurance provider’s stock after buying an additional 15,672 shares during the quarter. Rhumbline Advisers’ holdings in First American Financial were worth $14,591,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FAF. Prudential Financial Inc. boosted its position in First American Financial by 162.5% during the third quarter. Prudential Financial Inc. now owns 1,069,020 shares of the insurance provider’s stock worth $53,419,000 after purchasing an additional 661,701 shares during the period. APG Asset Management N.V. boosted its position in First American Financial by 287.8% during the fourth quarter. APG Asset Management N.V. now owns 748,900 shares of the insurance provider’s stock worth $34,950,000 after purchasing an additional 555,800 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in First American Financial by 37.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,466,329 shares of the insurance provider’s stock worth $82,173,000 after purchasing an additional 398,665 shares during the period. Victory Capital Management Inc. boosted its position in First American Financial by 21.9% during the third quarter. Victory Capital Management Inc. now owns 2,081,417 shares of the insurance provider’s stock worth $104,009,000 after purchasing an additional 373,834 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in First American Financial by 61.8% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 539,140 shares of the insurance provider’s stock worth $26,940,000 after purchasing an additional 205,835 shares during the period. Institutional investors and hedge funds own 83.59% of the company’s stock.
In other news, COO Christopher Michael Leavell sold 75,843 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.25, for a total value of $4,190,325.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.
First American Financial Corp (NYSE FAF) opened at $58.71 on Tuesday. First American Financial Corp has a 1 year low of $37.51 and a 1 year high of $62.71. The company has a market cap of $6,443.46, a P/E ratio of 16.36, a PEG ratio of 1.01 and a beta of 0.79.
First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. First American Financial had a net margin of 7.33% and a return on equity of 13.92%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the business earned $0.92 earnings per share. First American Financial’s revenue was down 1.5% compared to the same quarter last year. equities analysts forecast that First American Financial Corp will post 4.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 8th will be given a $0.38 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.59%. First American Financial’s dividend payout ratio (DPR) is currently 40.43%.
First American Financial Profile
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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