Parallel Advisors LLC Boosts Stock Position in First American Financial Corp (NYSE:FAF)

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Parallel Advisors LLC grew its stake in First American Financial Corp (NYSE:FAF) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,019 shares of the insurance provider’s stock after purchasing an additional 163 shares during the period. Parallel Advisors LLC’s holdings in First American Financial were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of First American Financial by 8.3% in the second quarter. BlackRock Inc. now owns 11,753,555 shares of the insurance provider’s stock valued at $631,166,000 after purchasing an additional 904,259 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in First American Financial by 2.1% in the second quarter. Victory Capital Management Inc. now owns 2,129,715 shares of the insurance provider’s stock valued at $114,366,000 after acquiring an additional 43,917 shares during the last quarter. AQR Capital Management LLC lifted its holdings in First American Financial by 5.4% in the second quarter. AQR Capital Management LLC now owns 1,925,850 shares of the insurance provider’s stock valued at $103,245,000 after acquiring an additional 99,187 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in First American Financial by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,426,276 shares of the insurance provider’s stock valued at $76,591,000 after acquiring an additional 3,653 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in First American Financial by 1.6% in the second quarter. LSV Asset Management now owns 978,538 shares of the insurance provider’s stock valued at $52,547,000 after acquiring an additional 15,200 shares during the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.

FAF traded up $0.45 during trading hours on Friday, reaching $62.74. The company’s stock had a trading volume of 383,085 shares, compared to its average volume of 620,105. First American Financial Corp has a fifty-two week low of $42.53 and a fifty-two week high of $63.02. The stock has a market cap of $6.96 billion, a PE ratio of 13.70 and a beta of 0.87. The business’s 50-day moving average is $60.10 and its 200-day moving average is $56.90.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. First American Financial had a return on equity of 15.21% and a net margin of 9.76%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that First American Financial Corp will post 5.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, December 6th. First American Financial’s dividend payout ratio (DPR) is 36.68%.

In other First American Financial news, CFO Mark Edward Seaton sold 8,069 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $61.93, for a total transaction of $499,713.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.

A number of research firms recently commented on FAF. ValuEngine upgraded First American Financial from a “strong sell” rating to a “sell” rating in a report on Monday, November 4th. Barclays set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a report on Friday, July 26th. Compass Point set a $60.00 price objective on First American Financial and gave the company a “hold” rating in a report on Friday, July 26th. Piper Jaffray Companies set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Zacks Investment Research cut First American Financial from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. First American Financial has a consensus rating of “Hold” and a consensus price target of $67.40.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

See Also: Trading on Margin

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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