18,827 Shares of First American Financial Corporation $FAF Purchased by Obermeyer Wealth Partners

Key Points

• Obermeyer Wealth Partners initiated a position in First American Financial by purchasing 18,827 shares worth approximately $1.14 million. Institutional investors and hedge funds collectively own 89.05% of the company.
• First American Financial reported quarterly earnings of $1.78 per share, below the $1.85 analyst consensus, while revenue of $2.09 billion was slightly under estimates. The stock recently traded at $66.69, with a market capitalization of about $6.81 billion.
• The company declared a quarterly dividend of $0.55, equivalent to an annualized $2.20 payout and a 3.3% yield. Analysts maintain a largely positive outlook, with a consensus “Moderate Buy” rating and an average price target of $82.80.

Obermeyer Wealth Partners purchased a new position in shares of First American Financial Corporation (NYSE:FAF - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 18,827 shares of the insurance provider's stock, valued at approximately $1,144,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of First American Financial during the second quarter worth $643,570,000. Dimensional Fund Advisors LP lifted its stake in First American Financial by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider's stock valued at $279,529,000 after buying an additional 245,279 shares during the period. Reinhart Partners LLC. lifted its stake in First American Financial by 1.9% in the second quarter. Reinhart Partners LLC. now owns 1,553,234 shares of the insurance provider's stock valued at $106,537,000 after buying an additional 28,534 shares during the period. Davis Asset Management L.P. acquired a new position in First American Financial in the second quarter valued at about $102,885,000. Finally, First Trust Advisors LP boosted its holdings in First American Financial by 110.2% during the first quarter. First Trust Advisors LP now owns 1,304,820 shares of the insurance provider's stock worth $78,668,000 after buying an additional 684,117 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Stock Up 0.6%

FAF opened at $66.69 on Thursday. First American Financial Corporation has a 12 month low of $56.20 and a 12 month high of $79.87. The company has a fifty day simple moving average of $68.80 and a 200 day simple moving average of $68.75. The stock has a market cap of $6.81 billion, a P/E ratio of 9.33, a P/E/G ratio of 0.61 and a beta of 1.24.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The insurance provider reported $1.78 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.07). The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%. During the same period in the previous year, the business posted $1.84 EPS. On average, equities research analysts expect that First American Financial Corporation will post 7.09 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were given a $0.55 dividend. The ex-dividend date was Monday, September 28th. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. First American Financial's payout ratio is currently 33.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FAF shares. Benchmark assumed coverage on First American Financial in a research report on Tuesday, July 21st. They set a "buy" rating and a $85.00 target price for the company. Truist Financial lowered their price target on First American Financial from $85.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, October 15th. Barclays cut their price target on shares of First American Financial from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. Keefe, Bruyette & Woods lifted their price objective on shares of First American Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of First American Financial in a research note on Friday, October 16th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, First American Financial has a consensus rating of "Moderate Buy" and an average target price of $82.80.

Insider Activity

In related news, CAO Steven Adams sold 3,253 shares of the firm's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the sale, the chief accounting officer directly owned 10,234 shares in the company, valued at $767,447.66. This trade represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by corporate insiders.

First American Financial Company Profile

First American Financial Corporation NYSE: FAF is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company's services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.

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