GWM Advisors LLC Raises Stock Holdings in First American Financial Corp (NYSE:FAF)
GWM Advisors LLC grew its stake in First American Financial Corp (NYSE:FAF) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,914 shares of the insurance provider’s stock after acquiring an additional 776 shares during the quarter. GWM Advisors LLC’s holdings in First American Financial were worth $1,875,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in shares of First American Financial during the first quarter valued at $25,000. Cornerstone Advisors Inc. bought a new position in shares of First American Financial during the first quarter valued at $27,000. Quantamental Technologies LLC lifted its holdings in shares of First American Financial by 330.0% during the first quarter. Quantamental Technologies LLC now owns 860 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 660 shares in the last quarter. Quadrant Capital Group LLC increased its position in First American Financial by 1,170.5% during the first quarter. Quadrant Capital Group LLC now owns 991 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 913 shares during the last quarter. Finally, Bremer Bank National Association purchased a new stake in First American Financial during the first quarter valued at $61,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.
First American Financial stock traded up $0.20 during mid-day trading on Tuesday, reaching $58.02. 6,090 shares of the stock traded hands, compared to its average volume of 675,940. The stock has a market capitalization of $6.49 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.07 and a beta of 0.91. First American Financial Corp has a 12-month low of $41.96 and a 12-month high of $58.82. The business’s 50-day moving average is $56.08 and its 200-day moving average is $53.76.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, September 6th. First American Financial’s payout ratio is 36.68%.
A number of research firms recently commented on FAF. Susquehanna Bancshares began coverage on First American Financial in a research report on Wednesday, June 19th. They set a “positive” rating and a $73.00 price objective for the company. Piper Jaffray Companies set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Compass Point set a $60.00 price objective on First American Financial and gave the company a “hold” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $66.00.
In other First American Financial news, COO Christopher Michael Leavell sold 10,006 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $57.99, for a total value of $580,247.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.
First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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