GAMMA Investing LLC Increases Stake in First American Financial Co. (NYSE:FAF)

GAMMA Investing LLC boosted its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 8,031.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,091 shares of the insurance provider's stock after buying an additional 86,020 shares during the period. GAMMA Investing LLC owned approximately 0.08% of First American Financial worth $5,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Versant Capital Management Inc grew its stake in First American Financial by 645.7% in the 1st quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock valued at $63,000 after buying an additional 833 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in First American Financial by 38.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,325 shares of the insurance provider's stock valued at $1,332,000 after buying an additional 5,889 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in First American Financial in the 4th quarter valued at approximately $385,000. Forum Financial Management LP purchased a new position in First American Financial in the 4th quarter valued at approximately $235,000. Finally, Public Employees Retirement System of Ohio grew its stake in First American Financial by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 36,697 shares of the insurance provider's stock valued at $2,291,000 after buying an additional 389 shares in the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Price Performance

First American Financial stock traded down $0.80 during mid-day trading on Friday, hitting $58.97. The company's stock had a trading volume of 1,096,072 shares, compared to its average volume of 720,086. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 47.18 and a beta of 1.22. The business has a 50 day moving average price of $58.80 and a 200-day moving average price of $62.14. First American Financial Co. has a 12 month low of $52.39 and a 12 month high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.65 by $0.19. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities research analysts expect that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, June 9th. First American Financial's dividend payout ratio (DPR) is 143.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays boosted their price target on shares of First American Financial from $69.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Stephens boosted their price target on shares of First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Finally, Wall Street Zen lowered shares of First American Financial from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.00.

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.