Neuburgh Advisers LLC boosted its holdings in shares of First American Co. (NYSE:FAF) by 141.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 52,836 shares of the insurance provider’s stock after acquiring an additional 30,974 shares during the period. Neuburgh Advisers LLC’s holdings in First American were worth $3,100,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in shares of First American in the 4th quarter valued at $129,000. Advisors Preferred LLC acquired a new position in shares of First American in the 1st quarter valued at $140,000. CIBC Asset Management Inc acquired a new position in shares of First American in the 1st quarter valued at $208,000. Jane Street Group LLC acquired a new position in shares of First American in the 4th quarter valued at $202,000. Finally, Round Table Services LLC acquired a new position in shares of First American in the 4th quarter valued at $210,000. 84.99% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of First American from a “sell” rating to a “hold” rating in a report on Wednesday. Barclays decreased their price target on shares of First American from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Finally, ValuEngine raised shares of First American from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. First American has a consensus rating of “Buy” and a consensus price target of $68.00.
Shares of NYSE FAF opened at $53.19 on Thursday. The firm has a market capitalization of $5.93 billion, a P/E ratio of 19.34, a P/E/G ratio of 0.92 and a beta of 0.77. First American Co. has a 1-year low of $52.99 and a 1-year high of $53.63.
First American (NYSE:FAF) last announced its earnings results on Thursday, April 26th. The insurance provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.03. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. First American had a net margin of 7.67% and a return on equity of 14.28%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. analysts predict that First American Co. will post 4.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, June 7th. First American’s payout ratio is presently 55.27%.
In related news, COO Christopher Michael Leavell sold 27,714 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $51.35, for a total value of $1,423,113.90. Following the completion of the transaction, the chief operating officer now directly owns 168,919 shares of the company’s stock, valued at approximately $8,673,990.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.
First American 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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