Victory Capital Management Inc. purchased a new stake in shares of First American Corporation (The) (NYSE:FAF) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,707,583 shares of the insurance provider’s stock, valued at approximately $76,312,000. Victory Capital Management Inc. owned about 1.54% of First American Corporation (The) as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of FAF. BlackRock Inc. boosted its position in shares of First American Corporation (The) by 3,956.3% in the first quarter. BlackRock Inc. now owns 9,926,367 shares of the insurance provider’s stock valued at $389,909,000 after buying an additional 9,681,653 shares during the period. Citadel Advisors LLC boosted its position in shares of First American Corporation (The) by 387.1% in the first quarter. Citadel Advisors LLC now owns 883,744 shares of the insurance provider’s stock valued at $34,713,000 after buying an additional 702,311 shares during the period. Hamlin Capital Management LLC boosted its position in shares of First American Corporation (The) by 37.1% in the second quarter. Hamlin Capital Management LLC now owns 1,411,501 shares of the insurance provider’s stock valued at $63,080,000 after buying an additional 382,145 shares during the period. Marshall Wace North America L.P. bought a new position in shares of First American Corporation (The) during the second quarter valued at about $14,644,000. Finally, First Trust Advisors LP boosted its position in shares of First American Corporation (The) by 85.5% in the first quarter. First Trust Advisors LP now owns 518,329 shares of the insurance provider’s stock valued at $20,360,000 after buying an additional 238,852 shares during the period. Hedge funds and other institutional investors own 86.48% of the company’s stock.

First American Corporation (NYSE:FAF) opened at 48.49 on Friday. First American Corporation has a 12 month low of $35.28 and a 12 month high of $49.48. The firm has a market cap of $5.37 billion, a PE ratio of 14.70 and a beta of 0.73. The company has a 50-day moving average price of $47.29 and a 200 day moving average price of $42.66.

First American Corporation (The) (NYSE:FAF) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.18. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Equities research analysts anticipate that First American Corporation will post $3.46 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This is a positive change from First American Corporation (The)’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 3.13%. First American Corporation (The)’s payout ratio is 41.21%.

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Several equities analysts recently issued reports on FAF shares. Zacks Investment Research upgraded First American Corporation (The) from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Monday, May 1st. BidaskClub upgraded First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th.

In other First American Corporation (The) news, CFO Mark Edward Seaton sold 7,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $48.33, for a total value of $338,310.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

First American Corporation (The) Company 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.

Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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