First American Financial Corporation (NYSE:FAF) to Issue $0.55 Quarterly Dividend

First American Financial Corporation (NYSE:FAF) declared a quarterly dividend on Wednesday, January 21st. Shareholders of record on Monday, March 9th will be given a dividend of 0.55 per share by the insurance provider on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, March 9th.

First American Financial has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. First American Financial has a payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First American Financial to earn $5.86 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 37.5%.

First American Financial Stock Up 3.5%

FAF opened at $63.42 on Thursday. First American Financial has a 52 week low of $53.09 and a 52 week high of $68.64. The stock has a market cap of $6.46 billion, a PE ratio of 13.64 and a beta of 1.27. The business has a 50 day moving average of $62.82 and a 200-day moving average of $62.75.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.28. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the company posted $1.34 EPS. First American Financial’s revenue was up 40.7% on a year-over-year basis. Equities analysts anticipate that First American Financial will post 5.35 EPS for the current year.

Hedge Funds Weigh In On First American Financial

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

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.