First American Financial Corporation (NYSE:FAF) Increases Dividend to $0.61 Per Share

First American Financial Corporation (NYSE:FAF) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Tuesday, December 8th will be paid a dividend of $0.61 per share by the insurance provider on Tuesday, December 15th. This represents a $2.44 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 8th. This is a 10.9% increase from First American Financial’s previous quarterly dividend of $0.55.

First American Financial has a dividend payout ratio of 39.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First American Financial to earn $6.97 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 35.0%.

First American Financial Stock Performance

FAF stock opened at $67.11 on Wednesday. The business’s 50-day moving average is $67.31 and its two-hundred day moving average is $67.39. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 9.47 and a beta of 1.22. First American Financial has a fifty-two week low of $56.20 and a fifty-two week high of $79.87.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 21st. The insurance provider reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). First American Financial had a return on equity of 13.41% and a net margin of 9.05%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the business posted $1.84 earnings per share. Equities analysts predict that First American Financial will post 6.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FAF. GAMMA Investing LLC raised its stake in First American Financial by 9.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,696 shares of the insurance provider’s stock valued at $116,000 after acquiring an additional 148 shares during the last quarter. Equitable Trust Co. boosted its position in shares of First American Financial by 2.3% in the 1st quarter. Equitable Trust Co. now owns 6,980 shares of the insurance provider’s stock worth $421,000 after buying an additional 160 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of First American Financial by 70.7% in the third quarter. Elevation Wealth Partners LLC now owns 437 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Sanctuary Advisors LLC grew its stake in First American Financial by 6.7% in the 1st quarter. Sanctuary Advisors LLC now owns 3,956 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 248 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in First American Financial by 0.7% in the 1st quarter. Meeder Asset Management Inc. now owns 40,934 shares of the insurance provider’s stock worth $2,468,000 after buying an additional 297 shares during the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

About First American Financial

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.