Occidental Asset Management LLC boosted its position in shares of First American Financial Corp (NYSE:FAF) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,665 shares of the insurance provider’s stock after acquiring an additional 578 shares during the period. Occidental Asset Management LLC’s holdings in First American Financial were worth $680,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in First American Financial by 1,170.5% during the first quarter. Quadrant Capital Group LLC now owns 991 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 913 shares during the period. Nordea Investment Management AB grew its stake in shares of First American Financial by 1.2% in the 1st quarter. Nordea Investment Management AB now owns 91,374 shares of the insurance provider’s stock valued at $4,706,000 after purchasing an additional 1,115 shares during the period. Weaver Consulting Group bought a new stake in shares of First American Financial in the 1st quarter valued at approximately $69,000. State of Alaska Department of Revenue grew its stake in shares of First American Financial by 86.7% in the 1st quarter. State of Alaska Department of Revenue now owns 21,510 shares of the insurance provider’s stock valued at $1,107,000 after purchasing an additional 9,986 shares during the period. Finally, Retirement Systems of Alabama grew its stake in shares of First American Financial by 4.7% in the 2nd quarter. Retirement Systems of Alabama now owns 276,006 shares of the insurance provider’s stock valued at $14,822,000 after purchasing an additional 12,492 shares during the period. Hedge funds and other institutional investors own 83.10% of the company’s stock.
In other First American Financial news, COO Christopher Michael Leavell sold 10,006 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $57.99, for a total transaction of $580,247.94. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.
First American Financial (NYSE:FAF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.35 by $0.23. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.52 billion. First American Financial had a return on equity of 14.77% and a net margin of 9.36%. First American Financial’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 EPS. Research analysts anticipate that First American Financial Corp will post 4.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, September 6th. First American Financial’s payout ratio is currently 36.68%.
Several research firms have recently weighed in on FAF. Compass Point set a $60.00 price objective on First American Financial and gave the company a “hold” rating in a research note on Friday, July 26th. Susquehanna Bancshares began coverage on First American Financial in a research note on Wednesday, June 19th. They issued a “positive” rating and a $73.00 price objective on the stock. Piper Jaffray Companies set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Barclays set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. First American Financial presently has an average rating of “Buy” and an average price target of $66.00.
First American Financial Profile
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.
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