78,554 Shares in First American Financial Corporation $FAF Acquired by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp opened a new position in First American Financial, acquiring 78,554 shares worth about $5.05 million (roughly 0.08% of the company) as part of broader institutional ownership that totals 89.05%.
• Director Parker S. Kennedy bought 44,841 shares at $67.85 ($3.04 million), raising his stake to 251,552 shares and signaling insider confidence; insiders now own 3.70% of the stock.
• First American beat estimates with Q earnings of $1.99 EPS (vs. $1.49 est.) and $2.0B revenue (up 21.6% Y/Y), while analysts hold a consensus Buy rating with a $79 price target; the stock yields 3.5% annually.

Tudor Investment Corp ET AL purchased a new position in First American Financial Corporation (NYSE:FAF - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,554 shares of the insurance provider's stock, valued at approximately $5,046,000. Tudor Investment Corp ET AL owned about 0.08% of First American Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH grew its stake in shares of First American Financial by 10.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 210,739 shares of the insurance provider's stock worth $13,538,000 after buying an additional 20,188 shares during the last quarter. Channing Capital Management LLC grew its stake in shares of First American Financial by 16.9% in the 3rd quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider's stock worth $99,430,000 after buying an additional 224,277 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of First American Financial by 129.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 64,774 shares of the insurance provider's stock worth $3,976,000 after buying an additional 36,485 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First American Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,293,573 shares of the insurance provider's stock worth $275,816,000 after buying an additional 168,706 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of First American Financial in the 3rd quarter worth approximately $1,215,000. Hedge funds and other institutional investors own 89.05% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on FAF. Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of First American Financial in a research note on Friday, February 13th. Weiss Ratings reiterated a "buy (b-)" rating on shares of First American Financial in a research note on Friday, December 26th. Truist Financial increased their target price on First American Financial from $76.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Finally, Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the company an "outperform" rating in a research note on Thursday, December 18th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $79.00.

Insider Activity

In other news, Director Parker S. Kennedy purchased 44,841 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the purchase, the director directly owned 251,552 shares in the company, valued at approximately $17,067,803.20. This represents a 21.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by company insiders.

First American Financial Trading Up 4.2%

Shares of FAF opened at $63.40 on Thursday. The business's fifty day simple moving average is $64.29 and its two-hundred day simple moving average is $63.28. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $71.47. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.60 and a beta of 1.28.

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

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, March 9th. First American Financial's dividend payout ratio (DPR) is 36.61%.

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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