Diversify Wealth Management LLC Buys Shares of 7,332 First American Financial Corporation $FAF

Diversify Wealth Management LLC bought a new stake in First American Financial Corporation (NYSE:FAF) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,332 shares of the insurance provider’s stock, valued at approximately $442,000.

A number of other hedge funds also recently modified their holdings of FAF. Duncker Streett & Co. Inc. increased its position in First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 376 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in First American Financial during the 4th quarter worth about $27,000. Global Retirement Partners LLC boosted its holdings in First American Financial by 1,107.5% in the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 443 shares during the last quarter. Danske Bank A S acquired a new stake in shares of First American Financial during the third quarter worth $45,000. Finally, IFP Advisors Inc raised its stake in First American Financial by 568.8% during the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock worth $46,000 after buying an additional 637 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Trading Up 1.5%

Shares of FAF opened at $73.07 on Friday. The firm has a fifty day simple moving average of $67.97 and a two-hundred day simple moving average of $65.62. First American Financial Corporation has a 1-year low of $55.78 and a 1-year high of $73.50. The firm has a market cap of $7.45 billion, a PE ratio of 11.22, a P/E/G ratio of 0.70 and a beta of 1.23.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.27. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. As a group, research analysts forecast that First American Financial Corporation will post 6.75 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, June 8th. First American Financial’s dividend payout ratio is currently 33.79%.

Insider Buying and Selling

In other First American Financial news, Director Margaret M. Mccarthy sold 6,630 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $70.59, for a total value of $468,011.70. Following the completion of the transaction, the director owned 24,024 shares in the company, valued at approximately $1,695,854.16. This represents a 21.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the sale, the senior vice president directly owned 29,635 shares in the company, valued at $2,033,850.05. This represents a 16.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FAF shares. Truist Financial raised their target price on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Stephens reiterated an “overweight” rating and set a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Finally, Barclays boosted their price objective on First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

First American Financial 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.