Russell Investments Group Ltd. raised its stake in First American Corporation (The) (NYSE:FAF) by 69.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,064 shares of the insurance provider’s stock after acquiring an additional 30,054 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of First American worth $3,651,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners grew its stake in shares of First American by 1.7% in the third quarter. Boston Partners now owns 694,238 shares of the insurance provider’s stock worth $34,692,000 after acquiring an additional 11,600 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of First American during the second quarter valued at $1,670,000. Federated Investors Inc. PA boosted its position in shares of First American by 20.2% during the second quarter. Federated Investors Inc. PA now owns 55,605 shares of the insurance provider’s stock valued at $2,485,000 after buying an additional 9,360 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of First American by 6.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 494,766 shares of the insurance provider’s stock valued at $22,112,000 after buying an additional 28,135 shares during the last quarter. Finally, Phocas Financial Corp. boosted its position in shares of First American by 130.1% during the second quarter. Phocas Financial Corp. now owns 254,578 shares of the insurance provider’s stock valued at $11,377,000 after buying an additional 143,941 shares during the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.
In other First American news, CEO Dennis J. Gilmore sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 611,141 shares of the company’s stock, valued at $33,594,420.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Edward Seaton sold 9,981 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $54.87, for a total value of $547,657.47. The disclosure for this sale can be found here. Insiders have sold 193,161 shares of company stock worth $10,639,325 over the last ninety days. 3.10% of the stock is currently owned by insiders.
Shares of First American Corporation (NYSE:FAF) opened at $55.90 on Friday. First American Corporation has a 12-month low of $36.50 and a 12-month high of $56.83. The company has a market capitalization of $6,180.29, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.22 and a beta of 0.74.
First American (NYSE:FAF) last released its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.00 by $0.12. First American had a return on equity of 14.30% and a net margin of 4.88%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm posted $0.96 earnings per share. First American’s revenue was up .7% compared to the same quarter last year. analysts predict that First American Corporation will post 3.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 8th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.72%. First American’s dividend payout ratio (DPR) is presently 60.08%.
FAF has been the topic of several recent analyst reports. Zacks Investment Research cut First American from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Barclays increased their price objective on First American from $52.00 to $60.00 and gave the company an “overweight” rating in a research 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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