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

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 value of $243,942.47. Following the transaction, the chief accounting officer owned 10,234 shares of the company’s stock, valued at $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First American Financial Stock Up 3.8%

Shares of FAF stock opened at $79.18 on Wednesday. First American Financial Corporation has a 12-month low of $56.20 and a 12-month high of $79.38. The firm has a 50-day moving average price of $68.77 and a 200 day moving average price of $66.22. The company has a market capitalization of $8.08 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.71 and a beta of 1.23.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping the consensus estimate of $1.80 by $0.28. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.03 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.First American Financial’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 EPS. As a group, research analysts expect that First American Financial Corporation will post 7.02 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, June 8th. First American Financial’s dividend payout ratio is presently 30.47%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FAF shares. Zacks Research lowered shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Truist Financial increased their price target on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Benchmark initiated coverage on First American Financial in a research note on Tuesday, July 21st. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Stephens restated an “overweight” rating and issued a $84.00 price objective on shares of First American Financial in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and an average target price of $84.60.

Institutional Trading of First American Financial

Several hedge funds have recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. increased its position in First American Financial by 616.4% during the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 376 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of First American Financial during the 4th quarter worth approximately $27,000. Global Retirement Partners LLC lifted its holdings in shares of First American Financial by 1,107.5% during the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 443 shares during the period. Danske Bank A S acquired a new stake in shares of First American Financial during the 3rd quarter worth approximately $45,000. Finally, IFP Advisors Inc increased its stake in First American Financial by 568.8% in the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 637 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Company Profile

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.