Legal & General Group Plc Buys 11,921 Shares of First American Corporation (The) (FAF)
Legal & General Group Plc grew its stake in shares of First American Corporation (The) (NYSE:FAF) by 8.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 147,955 shares of the insurance provider’s stock after purchasing an additional 11,921 shares during the period. Legal & General Group Plc owned about 0.13% of First American worth $7,392,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Planning increased its holdings in First American by 5.3% during the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 114 shares in the last quarter. Acrospire Investment Management LLC increased its stake in First American by 352.3% in the second quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock valued at $120,000 after acquiring an additional 2,100 shares during the last quarter. Quantbot Technologies LP increased its stake in First American by 78.1% in the second quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock valued at $136,000 after acquiring an additional 1,342 shares during the last quarter. Macquarie Group Ltd. bought a new position in First American in the third quarter valued at $190,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First American by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock valued at $170,000 after acquiring an additional 298 shares during the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Mark Edward Seaton sold 9,981 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $54.87, for a total transaction of $547,657.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dennis J. Gilmore sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $54.97, for a total value of $5,497,000.00. Following the transaction, the chief executive officer now directly owns 611,141 shares in the company, valued at $33,594,420.77. The disclosure for this sale can be found here. Insiders have sold 193,161 shares of company stock worth $10,639,325 over the last ninety days. Insiders own 3.10% of the company’s stock.
A number of research analysts recently commented on the company. Barclays increased their target price on First American from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Zacks Investment Research cut First American from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th.
Shares of First American Corporation (FAF) traded up $0.20 during trading hours on Friday, hitting $55.77. The stock had a trading volume of 406,800 shares, compared to its average volume of 578,747. First American Corporation has a 52-week low of $36.50 and a 52-week high of $56.83. The company has a market capitalization of $6,157.02, a PE ratio of 15.78, a P/E/G ratio of 1.22 and a beta of 0.74.
First American (NYSE:FAF) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.12. First American had a return on equity of 14.30% and a net margin of 4.88%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. research analysts predict that First American Corporation will post 3.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. First American’s dividend payout ratio (DPR) is currently 60.08%.
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First American Profile
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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