First American Corporation (The) (NYSE:FAF) COO Christopher Michael Leavell sold 75,843 shares of First American stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.25, for a total transaction of $4,190,325.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
First American Corporation (NYSE FAF) opened at $55.30 on Wednesday. First American Corporation has a 1-year low of $35.28 and a 1-year high of $56.40. The company has a market cap of $6,152.58, a price-to-earnings ratio of 15.77, a PEG ratio of 1.22 and a beta of 0.74.
First American (NYSE:FAF) last released its earnings results on Thursday, October 26th. The insurance provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.00 by $0.12. First American had a net margin of 4.88% and a return on equity of 14.30%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. analysts anticipate that First American Corporation will post 3.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, December 7th. First American’s dividend payout ratio (DPR) is presently 60.08%.
Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of First American by 35.3% in the third quarter. Public Employees Retirement System of Ohio now owns 125,023 shares of the insurance provider’s stock worth $6,247,000 after buying an additional 32,616 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of First American by 119.0% in the third quarter. Sterling Capital Management LLC now owns 89,888 shares of the insurance provider’s stock worth $4,492,000 after buying an additional 48,846 shares in the last quarter. Guardian Capital LP purchased a new position in shares of First American in the third quarter worth $222,000. California Public Employees Retirement System lifted its holdings in shares of First American by 9.4% in the third quarter. California Public Employees Retirement System now owns 288,088 shares of the insurance provider’s stock worth $14,396,000 after buying an additional 24,688 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of First American by 84.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,623 shares of the insurance provider’s stock worth $731,000 after buying an additional 6,677 shares in the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on FAF shares. Zacks Investment Research raised shares of First American from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a report on Monday, October 30th. Barclays lifted their price target on shares of First American from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 27th.
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First American 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.
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