Spark Investment Management LLC lessened its holdings in First American Financial Corp (NYSE:FAF) by 77.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,700 shares of the insurance provider’s stock after selling 22,900 shares during the quarter. Spark Investment Management LLC’s holdings in First American Financial were worth $375,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Martingale Asset Management L P grew its stake in shares of First American Financial by 81.1% in the fourth quarter. Martingale Asset Management L P now owns 589,346 shares of the insurance provider’s stock valued at $33,028,000 after buying an additional 263,892 shares in the last quarter. Mutual Advisors LLC bought a new position in First American Financial during the fourth quarter worth $2,535,000. AlphaStar Capital Management LLC bought a new position in First American Financial during the fourth quarter worth $365,000. First Republic Investment Management Inc. boosted its position in First American Financial by 283.1% during the fourth quarter. First Republic Investment Management Inc. now owns 31,822 shares of the insurance provider’s stock worth $1,783,000 after purchasing an additional 23,515 shares during the period. Finally, Financial Sense Advisors Inc. bought a new position in First American Financial during the fourth quarter worth $591,000. 84.91% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on FAF shares. ValuEngine raised First American Financial from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised First American Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, December 28th. Barclays reduced their price target on First American Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Finally, Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $57.33.
Shares of First American Financial Corp (NYSE FAF) traded down $0.46 during trading hours on Wednesday, hitting $59.15. The stock had a trading volume of 559,047 shares, compared to its average volume of 714,663. The firm has a market capitalization of $6,522.24, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.02 and a beta of 0.79. First American Financial Corp has a one year low of $37.61 and a one year high of $62.71.
First American Financial (NYSE:FAF) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. First American Financial had a return on equity of 13.92% and a net margin of 7.33%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. sell-side analysts anticipate that First American Financial Corp will post 4.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.57%. First American Financial’s payout ratio is currently 40.43%.
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First American Financial 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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