Bar Harbor Wealth Management Cuts Stock Holdings in First American Financial Corporation $FAF

Key Points

• Bar Harbor Wealth Management reduced its stake in First American Financial Corporation by 5.9%, holding 118,667 shares valued at approximately $7.29 million.
• Insider activity included Director Margaret M. McCarthy selling 3,500 shares at $65.63 each, representing an 11.08% decrease in her position.
• First American Financial's recent quarterly earnings report showed a 14.2% year-over-year revenue increase, outperforming analyst estimates with earnings per share of $1.53.

Bar Harbor Wealth Management lowered its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,667 shares of the insurance provider's stock after selling 7,426 shares during the quarter. Bar Harbor Wealth Management owned 0.12% of First American Financial worth $7,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its position in First American Financial by 0.3% during the first quarter. Principal Financial Group Inc. now owns 236,876 shares of the insurance provider's stock valued at $15,546,000 after purchasing an additional 794 shares during the last quarter. GAMMA Investing LLC lifted its position in First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock valued at $87,000 after purchasing an additional 256 shares during the last quarter. Cetera Investment Advisers lifted its position in First American Financial by 137.8% during the first quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider's stock valued at $1,384,000 after purchasing an additional 12,222 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in First American Financial by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 132,150 shares of the insurance provider's stock valued at $8,673,000 after purchasing an additional 3,557 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in First American Financial during the first quarter valued at $829,000. Institutional investors own 89.05% of the company's stock.

Insiders Place Their Bets

In related news, Director Margaret M. Mccarthy sold 3,500 shares of First American Financial stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total transaction of $229,705.00. Following the completion of the sale, the director owned 28,095 shares in the company, valued at $1,843,874.85. This trade represents a 11.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by insiders.

First American Financial Price Performance

Shares of FAF opened at $60.76 on Thursday. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92. The company has a 50-day moving average of $64.80 and a 200 day moving average of $61.44. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 33.57 and a beta of 1.27.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.13. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business posted $1.27 EPS. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial announced that its board has approved a stock repurchase plan on Wednesday, July 23rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, September 22nd. This is a positive change from First American Financial's previous quarterly dividend of $0.54. First American Financial's dividend payout ratio (DPR) is 121.55%.

Wall Street Analyst Weigh In

FAF has been the subject of several research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of First American Financial in a research report on Wednesday. Barclays raised their target price on shares of First American Financial from $70.00 to $71.00 and gave the stock a "cautious" rating in a report on Monday. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, First American Financial currently has a consensus rating of "Hold" and a consensus price target of $75.25.

First American Financial Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.

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