16,514 Shares in First American Financial Corporation $FAF Purchased by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd bought a new stake of 16,514 shares in First American Financial in Q3, valued at about $1.06 million.
• Director Parker S. Kennedy bought 44,841 shares at an average price of $67.85 (≈$3.04 million), increasing his holding to 251,552 shares.
• First American beat quarterly expectations with $1.99 EPS vs. $1.49 est and $2.0B revenue (up 21.6% YoY), declared a $0.55 quarterly dividend (3.2% yield), and analysts have mostly upgraded targets to support a consensus “Moderate Buy” (~$78.50).

Dynamic Technology Lab Private Ltd purchased a new stake in First American Financial Corporation (NYSE:FAF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,514 shares of the insurance provider's stock, valued at approximately $1,061,000.

Other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its stake in shares of First American Financial by 2,887.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider's stock worth $31,000 after purchasing an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of First American Financial in the second quarter valued at $35,000. First Horizon Corp bought a new position in shares of First American Financial in the third quarter valued at $37,000. Atlantic Union Bankshares Corp acquired a new position in First American Financial during the second quarter worth $36,000. Finally, Tripletail Wealth Management LLC acquired a new position in First American Financial during the third quarter worth $41,000. Institutional investors and hedge funds own 89.05% of the company's stock.

Insider Transactions at First American Financial

In related news, Director Parker S. Kennedy acquired 44,841 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was purchased at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the transaction, the director directly owned 251,552 shares of the company's stock, valued at approximately $17,067,803.20. The trade was a 21.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by company insiders.

First American Financial Price Performance

FAF stock opened at $67.71 on Monday. First American Financial Corporation has a one year low of $53.09 and a one year high of $71.47. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25. The company has a fifty day moving average price of $64.62 and a two-hundred day moving average price of $64.09.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.50. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. The company's revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 earnings per share. Research analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, March 9th. First American Financial's dividend payout ratio is currently 36.61%.

Wall Street Analysts Forecast Growth

FAF has been the topic of several analyst reports. Truist Financial upped their price target on shares of First American Financial from $76.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Stephens upgraded shares of First American Financial from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.00 to $81.00 in a research note on Monday, March 2nd. Keefe, Bruyette & Woods upped their target price on shares of First American Financial from $79.00 to $81.00 and gave the company an "outperform" rating in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of First American Financial in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of First American Financial in a report on Friday, December 26th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.50.

About First American Financial

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company's title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.

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