Geode Capital Management LLC Acquires 19,752 Shares of First American Financial Corporation $FAF

Geode Capital Management LLC raised its holdings in shares of First American Financial Corporation (NYSE:FAF) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,793,179 shares of the insurance provider’s stock after buying an additional 19,752 shares during the period. Geode Capital Management LLC’s holdings in First American Financial were worth $110,200,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Naples Global Advisors LLC lifted its stake in First American Financial by 2.4% in the fourth quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock worth $461,000 after acquiring an additional 175 shares during the period. Inscription Capital LLC raised its holdings in First American Financial by 2.4% in the fourth quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 181 shares in the last quarter. Danske Bank A S raised its holdings in First American Financial by 28.6% in the fourth quarter. Danske Bank A S now owns 900 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 200 shares in the last quarter. Advisors Capital Management LLC raised its holdings in First American Financial by 0.3% in the fourth quarter. Advisors Capital Management LLC now owns 68,189 shares of the insurance provider’s stock worth $4,190,000 after purchasing an additional 211 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in First American Financial by 33.0% in the third quarter. Clearstead Advisors LLC now owns 859 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Insider Buying and Selling

In other news, SVP Lisa W. Cornehl sold 5,823 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total transaction of $399,632.49. Following the transaction, the senior vice president owned 29,635 shares of the company’s stock, valued at approximately $2,033,850.05. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total value of $468,011.70. Following the transaction, the director directly owned 24,024 shares in the company, valued at approximately $1,695,854.16. This represents a 21.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.

First American Financial Trading Up 1.6%

Shares of FAF opened at $66.97 on Friday. The business’s 50 day moving average is $65.72 and its 200 day moving average is $64.60. The company has a market capitalization of $6.82 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.63 and a beta of 1.24. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $71.47.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Equities research analysts predict that First American Financial Corporation will post 6.81 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s payout ratio is presently 33.79%.

Wall Street Analyst Weigh In

FAF has been the subject of a number of research reports. Zacks Research upgraded First American Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Stephens lifted their price objective on First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Barclays raised their target price on First American Financial from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, Truist Financial lifted 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. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, First American Financial currently has a consensus rating of “Buy” and an average target price of $82.50.

First American Financial Company 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.