Retirement Systems of Alabama boosted its stake in shares of First American Financial Corp. (NYSE:FAF) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,347 shares of the company’s stock after buying an additional 685 shares during the period. Retirement Systems of Alabama’s holdings in First American Financial Corp. were worth $5,685,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of First American Financial Corp. by 0.4% in the first quarter. State Street Corp now owns 3,839,133 shares of the company’s stock valued at $146,305,000 after buying an additional 17,146 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in First American Financial Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,140,560 shares of the company’s stock worth $119,687,000 after buying an additional 46,285 shares during the last quarter. Fisher Asset Management LLC raised its position in First American Financial Corp. by 8.0% in the second quarter. Fisher Asset Management LLC now owns 1,497,714 shares of the company’s stock worth $61,901,000 after buying an additional 111,373 shares during the last quarter. Geode Capital Management LLC raised its position in First American Financial Corp. by 5.2% in the first quarter. Geode Capital Management LLC now owns 704,835 shares of the company’s stock worth $26,861,000 after buying an additional 34,907 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in First American Financial Corp. by 134.0% in the first quarter. Goldman Sachs Group Inc. now owns 594,315 shares of the company’s stock worth $22,649,000 after buying an additional 340,302 shares during the last quarter. 86.72% of the stock is owned by institutional investors and hedge funds.
Shares of First American Financial Corp. (NYSE:FAF) traded up 2.08% during midday trading on Wednesday, hitting $40.25. The company had a trading volume of 563,559 shares. The stock has a 50 day moving average price of $41.15 and a 200 day moving average price of $39.34. First American Financial Corp. has a 1-year low of $31.74 and a 1-year high of $43.55. The firm has a market capitalization of $4.42 billion, a P/E ratio of 14.23 and a beta of 0.65.
First American Financial Corp. (NYSE:FAF) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. First American Financial Corp. had a net margin of 5.88% and a return on equity of 11.13%. The company earned $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that First American Financial Corp. will post $3.00 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were issued a $0.34 dividend. This is a positive change from First American Financial Corp.’s previous quarterly dividend of $0.26. This represents a $1.36 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Tuesday, September 6th. First American Financial Corp.’s payout ratio is presently 48.23%.
A number of research firms have recently commented on FAF. Zacks Investment Research lowered First American Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $45.00 price target (up from $42.00) on shares of First American Financial Corp. in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.00.
In related news, Director Mark C. Oman bought 2,700 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was acquired at an average cost of $42.08 per share, for a total transaction of $113,616.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate insiders.
About First American Financial Corp.
First American Financial Corporation is a holding company. Through its subsidiaries, the Company is engaged in the business of providing financial services. The Company’s segments include Title Insurance and Services, Specialty Insurance and corporate function. The Company’s title insurance and services segment issues title insurance policies on residential and commercial property in the United States and offers similar or related products and services internationally.
Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Financial Corp. (NYSE:FAF).
Receive News & Ratings for First American Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.