Townsquare Capital LLC reduced its position in shares of First American Financial Corp (NYSE:FAF) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,842 shares of the insurance provider’s stock after selling 402 shares during the period. Townsquare Capital LLC’s holdings in First American Financial were worth $389,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in First American Financial in the first quarter valued at $25,000. Cornerstone Advisors Inc. purchased a new stake in First American Financial in the first quarter valued at $27,000. Bremer Bank National Association purchased a new stake in First American Financial in the first quarter valued at $61,000. Signaturefd LLC lifted its position in First American Financial by 22.5% in the second quarter. Signaturefd LLC now owns 1,136 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 209 shares during the last quarter. Finally, Weaver Consulting Group purchased a new stake in First American Financial in the first quarter valued at $69,000. 82.99% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Christopher Michael Leavell sold 10,006 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $57.99, for a total value of $580,247.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, beating analysts’ consensus estimates of $1.35 by $0.23. First American Financial had a net margin of 9.36% and a return on equity of 14.77%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that First American Financial Corp will post 4.93 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.42 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.82%. First American Financial’s payout ratio is 36.68%.
A number of equities research analysts recently weighed in on the stock. Barclays set a $68.00 price target on shares of First American Financial and gave the company a “buy” rating in a research report on Friday, July 26th. Susquehanna Bancshares assumed coverage on shares of First American Financial in a research report on Wednesday, June 19th. They issued a “positive” rating and a $73.00 price target for the company. ValuEngine cut shares of First American Financial from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Zacks Investment Research cut shares of First American Financial from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a research report on Tuesday. Finally, Compass Point set a $60.00 price target on shares of First American Financial and gave the company a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. First American Financial has a consensus rating of “Hold” and a consensus target price of $67.40.
First American Financial Company 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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