Oppenheimer Asset Management Inc. Raises Position in First American Financial Corporation $FAF

Oppenheimer Asset Management Inc. grew its stake in First American Financial Corporation (NYSE:FAF) by 33.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,721 shares of the insurance provider’s stock after purchasing an additional 7,775 shares during the period. Oppenheimer Asset Management Inc.’s holdings in First American Financial were worth $1,974,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its position in First American Financial by 121.3% in 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. raised its stake 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 acquiring an additional 28,666 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of First American Financial by 7.1% in 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 last quarter. Jane Street Group LLC boosted its stake 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 purchasing an additional 43,651 shares during the period. Finally, Focus Partners Wealth grew its holdings in First American Financial by 11.3% during the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 435 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

NYSE:FAF opened at $66.09 on Friday. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $68.75. The company has a 50-day moving average of $63.00 and a 200 day moving average of $63.51. The firm has a market cap of $6.73 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.68 and a beta of 1.27.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 12.12%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $1.35 EPS. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. Sell-side analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s payout ratio is 47.31%.

Analysts Set New Price Targets

FAF has been the subject of several recent analyst reports. Stephens began coverage on First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Finally, Barclays decreased their price objective on shares of First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

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.