Fieldview Capital Management LLC Purchases New Holdings in First American Financial Corporation $FAF

Key Points

• Fieldview Capital Management disclosed a new fourth-quarter stake in First American Financial, buying 20,039 shares worth about $1.23 million. Several other institutional investors also increased or initiated positions, and hedge funds/other institutions now own 89.05% of the stock.
• First American Financial reported better-than-expected quarterly results, with EPS of $1.33 versus the $1.06 consensus and revenue of $1.85 billion, up 16.2% year over year. Analysts expect the company to earn 6.81 EPS for the full year.
• The company announced a quarterly dividend of $0.55 per share, implying an annualized payout of $2.20 and a 3.3% yield. Wall Street remains mostly positive, with a consensus Buy rating and an average price target of $82.50.

Fieldview Capital Management LLC purchased a new stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,039 shares of the insurance provider's stock, valued at approximately $1,231,000.

A number of other large investors also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in First American Financial in the fourth quarter worth about $27,000. Global Retirement Partners LLC raised its holdings in First American Financial by 1,107.5% in the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider's stock worth $30,000 after buying an additional 443 shares during the last quarter. Danske Bank A S purchased a new position in First American Financial in the third quarter worth about $45,000. IFP Advisors Inc raised its holdings in First American Financial by 568.8% in the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider's stock worth $46,000 after buying an additional 637 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in First American Financial in the third quarter worth about $52,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Down 0.1%

Shares of FAF stock opened at $65.69 on Monday. The company has a 50 day moving average price of $66.35 and a 200-day moving average price of $64.70. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $71.47. The firm has a market capitalization of $6.69 billion, a PE ratio of 10.09, a P/E/G ratio of 0.63 and a beta of 1.24.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.27. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business posted $0.84 earnings per share. The business's revenue for the quarter was up 16.2% on a year-over-year basis. Analysts anticipate that First American Financial Corporation will post 6.81 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.55 dividend. The ex-dividend date is Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. First American Financial's payout ratio is currently 33.79%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FAF. Barclays lifted their target price on shares of First American Financial from $72.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Wall Street Zen cut shares of First American Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Truist Financial lifted their target price on shares of First American Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Stephens reaffirmed an "overweight" rating and issued a $84.00 target price on shares of First American Financial in a report on Friday. Finally, Weiss Ratings raised shares of First American Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $82.50.

Insider Buying and Selling

In other news, Director Margaret M. Mccarthy sold 6,630 shares of First American Financial stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total value of $468,011.70. Following the completion of the sale, the director directly owned 24,024 shares in the company, valued at $1,695,854.16. The trade was a 21.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total transaction of $399,632.49. Following the completion of the sale, the senior vice president owned 29,635 shares of the company's stock, valued at $2,033,850.05. This represents a 16.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company's stock.

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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