Vident Investment Advisory LLC raised its position in shares of First American Corporation (The) (NYSE:FAF) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,091 shares of the insurance provider’s stock after purchasing an additional 3,078 shares during the quarter. Vident Investment Advisory LLC owned about 0.05% of First American worth $2,952,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. boosted its stake in First American by 2.0% during the 2nd quarter. BlackRock Inc. now owns 10,128,054 shares of the insurance provider’s stock valued at $452,623,000 after purchasing an additional 201,687 shares in the last quarter. FMR LLC boosted its stake in First American by 7.6% during the 2nd quarter. FMR LLC now owns 9,564,140 shares of the insurance provider’s stock valued at $427,422,000 after purchasing an additional 675,763 shares in the last quarter. Vanguard Group Inc. boosted its stake in First American by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,333,287 shares of the insurance provider’s stock valued at $417,104,000 after purchasing an additional 53,168 shares in the last quarter. Victory Capital Management Inc. boosted its stake in First American by 21.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,081,417 shares of the insurance provider’s stock valued at $104,009,000 after purchasing an additional 373,834 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in First American by 6.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,580,057 shares of the insurance provider’s stock valued at $78,955,000 after purchasing an additional 100,325 shares in the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered First American from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Barclays increased their price target on First American from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 27th.
Shares of First American Corporation (FAF) opened at $56.04 on Monday. The firm has a market capitalization of $6,210.21, a price-to-earnings ratio of 15.92, a PEG ratio of 1.23 and a beta of 0.74. First American Corporation has a one year low of $36.50 and a one year high of $56.40.
First American (NYSE:FAF) last released its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.12. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. First American had a return on equity of 14.30% and a net margin of 4.88%. The company’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. sell-side analysts anticipate that First American Corporation will post 3.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, December 7th. First American’s dividend payout ratio is presently 60.08%.
In other news, insider Kenneth D. Degiorgio sold 7,337 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $55.11, for a total transaction of $404,342.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dennis J. Gilmore sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $54.97, for a total value of $5,497,000.00. Following the sale, the chief executive officer now directly owns 611,141 shares of the company’s stock, valued at $33,594,420.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,161 shares of company stock valued at $10,639,325. Corporate insiders own 3.10% of the company’s stock.
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About First American
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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