Koch Industries Inc. lifted its holdings in First American Financial Corp (NYSE:FAF) by 33.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,298 shares of the insurance provider’s stock after purchasing an additional 2,852 shares during the period. Koch Industries Inc.’s holdings in First American Financial were worth $663,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Preferred LLC purchased a new stake in First American Financial during the first quarter worth $140,000. Jane Street Group LLC purchased a new position in First American Financial during the fourth quarter valued at $202,000. CIBC Asset Management Inc purchased a new position in First American Financial during the first quarter valued at $208,000. Cambridge Investment Research Advisors Inc. purchased a new position in First American Financial during the fourth quarter valued at $212,000. Finally, Greenleaf Trust purchased a new position in First American Financial during the fourth quarter valued at $215,000. 84.03% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Christopher Michael Leavell sold 27,714 shares of First American Financial 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.
First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, April 26th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. First American Financial had a net margin of 7.67% and a return on equity of 14.28%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. equities analysts forecast that First American Financial Corp will post 4.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 8th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.93%. First American Financial’s payout ratio is 55.27%.
FAF has been the topic of several research reports. Zacks Investment Research downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. ValuEngine cut shares of First American Financial from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $68.00.
About First American Financial
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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