Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of First American Financial Corp (NYSE:FAF) by 373.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,567 shares of the insurance provider’s stock after purchasing an additional 15,438 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First American Financial were worth $1,097,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new position in First American Financial during the 4th quarter worth about $129,000. Round Table Services LLC bought a new position in shares of First American Financial in the 4th quarter valued at about $210,000. Macquarie Group Ltd. bought a new position in shares of First American Financial in the 3rd quarter valued at about $190,000. Guardian Capital LP bought a new position in shares of First American Financial in the 3rd quarter valued at about $222,000. Finally, Verition Fund Management LLC bought a new position in shares of First American Financial in the 2nd quarter valued at about $203,000. Hedge funds and other institutional investors own 83.15% of the company’s stock.
In related news, COO Christopher Michael Leavell sold 75,843 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $55.25, for a total value of $4,190,325.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.
Several equities analysts have recently weighed in on FAF shares. Zacks Investment Research upgraded First American Financial from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a report on Monday, October 30th. Barclays raised their price objective on First American Financial from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 27th. ValuEngine upgraded First American Financial from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a report on Monday, January 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $57.33.
First American Financial Corp (NYSE FAF) opened at $57.04 on Wednesday. The firm has a market capitalization of $6,224.61, a PE ratio of 15.17, a PEG ratio of 1.02 and a beta of 0.79. First American Financial Corp has a 1-year low of $37.51 and a 1-year high of $62.71.
First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $1.45 billion. During the same quarter last year, the company earned $0.92 EPS. First American Financial’s revenue for the quarter was down 1.5% compared to the same quarter last year. equities analysts forecast that First American Financial Corp will post 4.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 8th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $1.52 annualized dividend and a yield of 2.66%. First American Financial’s dividend payout ratio (DPR) 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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