First American Financial (NYSE:FAF) CAO Steven Adams Sells 3,253 Shares

First American Financial Corporation (NYSE:FAF) CAO Steven Adams sold 3,253 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the sale, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at $767,447.66. This represents a 24.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First American Financial Stock Up 3.8%

Shares of NYSE:FAF traded up $2.90 during midday trading on Tuesday, reaching $79.18. 869,472 shares of the company were exchanged, compared to its average volume of 1,017,227. The firm has a market cap of $8.07 billion, a PE ratio of 10.97, a P/E/G ratio of 0.71 and a beta of 1.23. First American Financial Corporation has a fifty-two week low of $56.20 and a fifty-two week high of $79.38. The stock has a fifty day simple moving average of $68.54 and a two-hundred day simple moving average of $66.09.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.28. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.53 EPS. As a group, analysts forecast that First American Financial Corporation will post 6.91 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 8th. First American Financial’s dividend payout ratio is currently 30.47%.

Hedge Funds Weigh In On First American Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in First American Financial by 121.3% during the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after buying an additional 813 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of First American Financial by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock valued at $19,233,000 after buying an additional 28,666 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of First American Financial by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock worth $27,180,000 after acquiring an additional 27,600 shares during the period. Jane Street Group LLC increased its holdings in shares of First American Financial by 182.5% during the 1st quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock worth $4,435,000 after acquiring an additional 43,651 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of First American Financial by 11.3% during the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after acquiring an additional 435 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a research report on Monday, July 20th. Zacks Research cut shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Truist Financial lifted their price objective on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Benchmark began coverage on shares of First American Financial in a research report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.60.

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.