Gabelli Funds LLC Buys 35,650 Shares of First American Financial Corporation $FAF

Gabelli Funds LLC increased its stake in shares of First American Financial Corporation (NYSE:FAF) by 81.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 79,362 shares of the insurance provider’s stock after purchasing an additional 35,650 shares during the quarter. Gabelli Funds LLC’s holdings in First American Financial were worth $4,876,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Boston Partners grew its position in First American Financial by 8.9% in the 3rd quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after acquiring an additional 500,649 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in First American Financial by 4,485,375.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after acquiring an additional 5,786,134 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First American Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,293,573 shares of the insurance provider’s stock valued at $275,816,000 after acquiring an additional 168,706 shares during the last quarter. Capital Research Global Investors grew its position in First American Financial by 194.5% in the 3rd quarter. Capital Research Global Investors now owns 3,306,583 shares of the insurance provider’s stock valued at $212,415,000 after acquiring an additional 2,183,960 shares during the last quarter. Finally, Channing Capital Management LLC grew its position in First American Financial by 16.9% in the 3rd quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider’s stock valued at $99,430,000 after acquiring an additional 224,277 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Trading Up 0.9%

Shares of FAF stock opened at $68.06 on Thursday. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $71.47. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 0.65 and a beta of 1.28. The stock has a fifty day simple moving average of $64.59 and a two-hundred day simple moving average of $64.29.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.27. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Research analysts predict that First American Financial Corporation will post 6.83 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, June 8th. First American Financial’s dividend payout ratio is 33.79%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FAF. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research raised First American Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Truist Financial upped their price objective on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Finally, Stephens upped their target price on First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $82.50.

Insiders Place Their Bets

In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the sale, the senior vice president directly owned 29,635 shares in the company, valued at approximately $2,033,850.05. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Margaret M. Mccarthy sold 6,630 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $70.59, for a total value of $468,011.70. Following the completion of the sale, the director owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. This trade represents a 21.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

First American Financial Profile

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.