Bowling Portfolio Management LLC Purchases New Shares in First American Financial Co. (NYSE:FAF)

Bowling Portfolio Management LLC purchased a new stake in shares of First American Financial Co. (NYSE:FAFGet Rating) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,943 shares of the insurance provider’s stock, valued at approximately $1,617,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JJJ Advisors Inc. raised its position in First American Financial by 100.0% in the fourth quarter. JJJ Advisors Inc. now owns 400 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 200 shares during the period. Lazard Asset Management LLC raised its position in First American Financial by 33.2% in the fourth quarter. Lazard Asset Management LLC now owns 530 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 132 shares during the period. Catalyst Capital Advisors LLC raised its position in First American Financial by 110.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 561 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 295 shares during the period. Covestor Ltd bought a new stake in First American Financial in the fourth quarter worth about $105,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of First American Financial in the fourth quarter valued at approximately $192,000. 84.95% of the stock is currently owned by institutional investors.

In other news, COO Christopher Michael Leavell sold 39,206 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $59.61, for a total value of $2,337,069.66. Following the completion of the sale, the chief operating officer now directly owns 166,465 shares in the company, valued at approximately $9,922,978.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

FAF stock opened at $49.98 on Thursday. First American Financial Co. has a one year low of $48.81 and a one year high of $81.54. The stock has a market cap of $5.37 billion, a PE ratio of 5.03 and a beta of 1.21. The firm has a 50 day simple moving average of $58.43 and a two-hundred day simple moving average of $66.81.

First American Financial (NYSE:FAFGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The insurance provider reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.97 billion. First American Financial had a return on equity of 15.61% and a net margin of 11.98%. On average, sell-side analysts forecast that First American Financial Co. will post 6.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 8th were issued a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.08%. First American Financial’s payout ratio is 20.54%.

Several analysts have recently issued reports on the stock. BTIG Research lowered their price target on shares of First American Financial from $93.00 to $86.00 in a research report on Tuesday, April 12th. StockNews.com assumed coverage on shares of First American Financial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Credit Suisse Group lowered shares of First American Financial from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $97.00 to $74.00 in a research report on Friday, April 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.88.

About First American Financial (Get Rating)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

Further Reading

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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