Lecap Asset Management Ltd. Purchases 15,079 Shares of First American Financial Corporation (NYSE:FAF)

Lecap Asset Management Ltd. increased its holdings in First American Financial Corporation (NYSE:FAF - Free Report) by 208.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,330 shares of the insurance provider's stock after purchasing an additional 15,079 shares during the period. Lecap Asset Management Ltd.'s holdings in First American Financial were worth $1,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of First American Financial by 57.6% in the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock worth $42,000 after buying an additional 245 shares in the last quarter. Versant Capital Management Inc grew its position in First American Financial by 645.7% in the first quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock valued at $63,000 after acquiring an additional 833 shares during the period. UMB Bank n.a. raised its stake in First American Financial by 132.1% during the first quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock worth $80,000 after acquiring an additional 692 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 256 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in shares of First American Financial by 14.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider's stock valued at $84,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 89.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays increased their target price on shares of First American Financial from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen downgraded First American Financial from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $75.00.

First American Financial Trading Up 0.4%

Shares of First American Financial stock traded up $0.22 during midday trading on Friday, reaching $61.35. The company had a trading volume of 1,577,053 shares, compared to its average volume of 741,124. The stock has a fifty day simple moving average of $58.71 and a 200 day simple moving average of $61.47. First American Financial Corporation has a 1-year low of $52.39 and a 1-year high of $70.92. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 40.63 and a beta of 1.22.

First American Financial (NYSE:FAF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.19. First American Financial had a return on equity of 10.05% and a net margin of 2.52%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, June 9th. First American Financial's dividend payout ratio is currently 143.05%.

About First American Financial

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.