Daiwa Securities Group Inc. increased its position in First American Corporation (The) (NYSE:FAF) by 16.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,026 shares of the insurance provider’s stock after buying an additional 726 shares during the period. Daiwa Securities Group Inc.’s holdings in First American Corporation (The) were worth $225,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in First American Corporation (The) by 3,956.3% in the first quarter. BlackRock Inc. now owns 9,926,367 shares of the insurance provider’s stock worth $389,909,000 after buying an additional 9,681,653 shares during the last quarter. State Street Corp boosted its stake in First American Corporation (The) by 3.7% in the first quarter. State Street Corp now owns 3,541,023 shares of the insurance provider’s stock worth $139,091,000 after buying an additional 126,125 shares during the last quarter. Fisher Asset Management LLC boosted its stake in First American Corporation (The) by 5.1% in the second quarter. Fisher Asset Management LLC now owns 1,479,732 shares of the insurance provider’s stock worth $66,129,000 after buying an additional 71,581 shares during the last quarter. Hamlin Capital Management LLC boosted its stake in First American Corporation (The) by 37.1% in the second quarter. Hamlin Capital Management LLC now owns 1,411,501 shares of the insurance provider’s stock worth $63,080,000 after buying an additional 382,145 shares during the last quarter. Finally, Anchor Capital Advisors LLC boosted its stake in First American Corporation (The) by 0.4% in the first quarter. Anchor Capital Advisors LLC now owns 919,026 shares of the insurance provider’s stock worth $36,099,000 after buying an additional 3,676 shares during the last quarter. 86.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of First American Corporation (FAF) opened at 48.15 on Friday. First American Corporation has a 1-year low of $35.28 and a 1-year high of $49.48. The firm’s 50 day moving average is $46.81 and its 200-day moving average is $42.28. The company has a market cap of $5.33 billion, a PE ratio of 14.60 and a beta of 0.73.
First American Corporation (The) (NYSE:FAF) last posted its earnings results on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.18. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the company posted $0.92 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts expect that First American Corporation will post $3.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.16%. This is a boost from First American Corporation (The)’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 7th. First American Corporation (The)’s dividend payout ratio (DPR) is currently 41.21%.
A number of analysts have weighed in on FAF shares. BidaskClub raised shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research note on Monday, July 31st.
About First American Corporation (The)
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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