Boston Partners Boosts Stock Holdings in First American Financial Corporation $FAF

Boston Partners grew its holdings in First American Financial Corporation (NYSE:FAF) by 19.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,627,096 shares of the insurance provider’s stock after buying an additional 934,838 shares during the quarter. Boston Partners owned about 0.06% of First American Financial worth $345,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAF. Cetera Investment Advisers lifted its position in shares of First American Financial by 137.8% during the first quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock valued at $1,384,000 after buying an additional 12,222 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of First American Financial by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 132,150 shares of the insurance provider’s stock worth $8,673,000 after acquiring an additional 3,557 shares in the last quarter. Advantage Alpha Capital Partners LP lifted its position in First American Financial by 14.2% during the first quarter. Advantage Alpha Capital Partners LP now owns 81,010 shares of the insurance provider’s stock valued at $5,317,000 after acquiring an additional 10,044 shares during the last quarter. Cerity Partners LLC boosted its stake in First American Financial by 23.9% in the first quarter. Cerity Partners LLC now owns 33,033 shares of the insurance provider’s stock valued at $2,168,000 after acquiring an additional 6,374 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in First American Financial by 10.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,273 shares of the insurance provider’s stock worth $280,000 after purchasing an additional 420 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors.

First American Financial Trading Up 1.2%

Shares of FAF stock opened at $63.10 on Tuesday. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $70.92. The stock has a market cap of $6.43 billion, a P/E ratio of 13.57 and a beta of 1.24. The stock has a 50 day moving average of $63.51 and a 200 day moving average of $61.37.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.42. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The business’s revenue was up 40.7% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. On average, research analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 23rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. First American Financial’s payout ratio is presently 47.31%.

Insiders Place Their Bets

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total value of $229,705.00. Following the completion of the transaction, the director owned 28,095 shares in the company, valued at approximately $1,843,874.85. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.