Burney Co. Sells 20,341 Shares of First American Financial Corporation $FAF

Burney Co. lowered its position in First American Financial Corporation (NYSE:FAF) by 23.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,818 shares of the insurance provider’s stock after selling 20,341 shares during the period. Burney Co. owned 0.06% of First American Financial worth $3,979,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FAF. Ameritas Advisory Services LLC bought a new position in First American Financial during the 2nd quarter valued at approximately $48,000. Ransom Advisory Ltd bought a new position in First American Financial during the 1st quarter valued at approximately $66,000. GAMMA Investing LLC increased its position in First American Financial by 23.9% during the 1st quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider’s stock valued at $87,000 after buying an additional 256 shares in the last quarter. Jones Financial Companies Lllp increased its position in First American Financial by 121.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after buying an additional 813 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in First American Financial by 576.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,819 shares of the insurance provider’s stock valued at $112,000 after buying an additional 1,550 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial raised their price objective on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Barclays raised their price objective on First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Weiss Ratings raised First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Finally, Keefe, Bruyette & Woods raised their price objective on First American Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, First American Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

Insider Activity

In other news, Director Margaret M. Mccarthy sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the transaction, the director directly owned 28,095 shares in the company, valued at $1,843,874.85. This trade represents a 11.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by company insiders.

First American Financial Trading Down 0.7%

Shares of FAF opened at $62.10 on Tuesday. The business’s fifty day simple moving average is $63.89 and its two-hundred day simple moving average is $61.27. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $70.92. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 13.35 and a beta of 1.27.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, October 22nd. The insurance provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.42 by $0.42. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $1.34 EPS. The company’s revenue was up 40.7% compared to the same quarter last year. As a group, research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were paid a $0.55 dividend. This is an increase from First American Financial’s previous quarterly dividend of $0.54. The ex-dividend date was Monday, September 22nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. First American Financial’s dividend payout ratio (DPR) is 47.31%.

First American Financial declared that its board has initiated a share buyback program on Wednesday, July 23rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

About First American Financial

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