JPMorgan Chase & Co. raised its holdings in First American Corporation (The) (NYSE:FAF) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 617,947 shares of the insurance provider’s stock after purchasing an additional 62,362 shares during the period. JPMorgan Chase & Co. owned about 0.56% of First American Corporation (The) worth $27,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. grew its holdings in 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 purchasing an additional 9,681,653 shares during the period. State Street Corp grew its holdings in First American Corporation (The) by 3.7% in the first quarter. State Street Corp now owns 3,541,023 shares of the insurance provider’s stock valued at $139,091,000 after purchasing an additional 126,125 shares during the period. Victory Capital Management Inc. acquired a new stake in First American Corporation (The) in the second quarter valued at approximately $76,312,000. Fisher Asset Management LLC grew its holdings in First American Corporation (The) by 5.1% in the second quarter. Fisher Asset Management LLC now owns 1,479,732 shares of the insurance provider’s stock valued at $66,129,000 after purchasing an additional 71,581 shares during the period. Finally, Hamlin Capital Management LLC grew its holdings in 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 purchasing an additional 382,145 shares during the period. 83.16% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “First American Corporation (The) (FAF) Shares Bought by JPMorgan Chase & Co.” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/09/19/first-american-corporation-the-faf-shares-bought-by-jpmorgan-chase-co.html.

In other news, CFO Mark Edward Seaton sold 7,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $48.33, for a total transaction of $338,310.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Shares of First American Corporation (NYSE FAF) opened at 49.25 on Tuesday. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 14.93 and a beta of 0.72. First American Corporation has a one year low of $35.28 and a one year high of $49.57. The firm has a 50-day moving average price of $48.45 and a 200 day moving average price of $43.73.

First American Corporation (The) (NYSE:FAF) last issued its earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.18. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. First American Corporation (The) had a return on equity of 12.22% and a net margin of 6.38%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. Equities analysts forecast that First American Corporation will post $3.40 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from First American Corporation (The)’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, September 7th. First American Corporation (The)’s dividend payout ratio is 46.06%.

FAF has been the topic of several research analyst reports. BidaskClub raised First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered First American Corporation (The) from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th.

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.

Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Corporation (The) (NYSE:FAF).

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

Receive News & Stock Ratings for First American Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Corporation (The) and related stocks with our FREE daily email newsletter.