Tulsa Wealth Advisors INC Purchases New Position in First American Financial Corporation $FAF

Tulsa Wealth Advisors INC purchased a new position in First American Financial Corporation (NYSE:FAF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,388 shares of the insurance provider’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Naples Global Advisors LLC grew its holdings in shares of First American Financial by 2.4% during the 4th 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 lifted its stake in shares of First American Financial by 2.4% in the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock valued at $469,000 after purchasing an additional 181 shares during the period. Danske Bank A S lifted its stake in shares of First American Financial by 28.6% in the 4th quarter. Danske Bank A S now owns 900 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 200 shares during the period. Quarry LP boosted its position in shares of First American Financial by 14.0% during the fourth quarter. Quarry LP now owns 1,658 shares of the insurance provider’s stock valued at $102,000 after purchasing an additional 203 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its position in shares of First American Financial by 0.3% during the fourth quarter. Advisors Capital Management LLC now owns 68,189 shares of the insurance provider’s stock valued at $4,190,000 after purchasing an additional 211 shares in the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on FAF. Truist Financial increased their price objective on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research raised shares of First American Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Barclays raised their target price on shares of First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Finally, Stephens reissued an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $82.50.

Insider Buying and Selling

In other news, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret M. Mccarthy sold 6,630 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the transaction, the director owned 24,024 shares in the company, valued at approximately $1,695,854.16. This trade represents a 21.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.50% of the company’s stock.

First American Financial Price Performance

FAF stock opened at $68.73 on Friday. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $71.47. The stock has a market capitalization of $7.00 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.66 and a beta of 1.24. The business has a fifty day moving average price of $67.12 and a 200-day moving average price of $64.78.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.84 EPS. First American Financial’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, analysts anticipate that First American Financial Corporation will post 6.81 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued 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 of this dividend was Monday, June 8th. First American Financial’s dividend payout ratio (DPR) is presently 33.79%.

About First American Financial

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.