Insider Buying: First American Financial (NYSE:FAF) Director Buys 44,841 Shares of Stock

First American Financial Corporation (NYSE:FAF) Director Parker Kennedy acquired 44,841 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the acquisition, the director owned 251,552 shares of the company’s stock, valued at $17,067,803.20. This represents a 21.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

First American Financial Stock Down 2.7%

Shares of FAF stock traded down $1.84 during mid-day trading on Wednesday, reaching $66.16. 1,284,488 shares of the company’s stock traded hands, compared to its average volume of 1,126,902. The company’s 50-day moving average price is $63.32 and its 200-day moving average price is $63.71. The company has a market cap of $6.74 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.72 and a beta of 1.27. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $68.75.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.93%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business earned $1.35 EPS. First American Financial’s quarterly revenue was up 21.6% compared to the same quarter last year. Equities analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is presently 36.61%.

Hedge Funds Weigh In On First American Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FAF. V Square Quantitative Management LLC purchased a new position in shares of First American Financial during the 4th quarter worth $27,000. Global Retirement Partners LLC raised its holdings in First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 443 shares during the period. SJS Investment Consulting Inc. raised its holdings in First American Financial by 2,887.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 462 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in First American Financial during the second quarter valued at $35,000. Finally, Atlantic Union Bankshares Corp bought a new stake in First American Financial during the second quarter valued at about $36,000. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAF. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Stephens initiated coverage on shares of First American Financial in a research note on Friday, November 14th. They issued an “equal weight” rating on the stock. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Finally, Barclays lifted their target price on shares of First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and an average price target of $77.67.

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.