Natixis Advisors LLC Has $21.54 Million Stock Position in First American Financial Corporation (NYSE:FAF)

Key Points

• Natixis Advisors LLC has decreased its stake in First American Financial Corporation by 4.3%, holding 328,129 shares valued at approximately $21.5 million as of its latest SEC filing.
• First American Financial reported a quarterly earnings per share (EPS) of $1.53, exceeding analysts' expectations of $1.40, with a year-over-year revenue increase of 14.2% to $1.84 billion.
• The company announced a share buyback plan allowing it to repurchase $300 million worth of shares, indicating confidence in its stock value, coupled with a recent quarterly dividend of $0.54 per share.

Natixis Advisors LLC cut its stake in First American Financial Corporation (NYSE:FAF - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,129 shares of the insurance provider's stock after selling 14,840 shares during the period. Natixis Advisors LLC owned 0.32% of First American Financial worth $21,535,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FAF. Bayforest Capital Ltd acquired a new stake in shares of First American Financial during the 1st quarter valued at $721,000. XTX Topco Ltd purchased a new stake in shares of First American Financial in the first quarter valued at $2,032,000. Meeder Asset Management Inc. lifted its holdings in shares of First American Financial by 273.5% in the first quarter. Meeder Asset Management Inc. now owns 49,369 shares of the insurance provider's stock valued at $3,240,000 after purchasing an additional 36,152 shares in the last quarter. Maridea Wealth Management LLC purchased a new stake in shares of First American Financial in the first quarter valued at $452,000. Finally, Mackenzie Financial Corp purchased a new stake in First American Financial in the 1st quarter worth approximately $209,000. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Stock Up 0.3%

FAF traded up $0.21 during trading on Wednesday, hitting $62.83. The company's stock had a trading volume of 293,562 shares, compared to its average volume of 919,806. The firm's 50 day moving average price is $58.74 and its two-hundred day moving average price is $60.96. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 34.71 and a beta of 1.24. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.40 by $0.13. First American Financial had a return on equity of 10.41% and a net margin of 2.90%. The company had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. The business's revenue for the quarter was up 14.2% on a year-over-year basis. On average, sell-side analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, June 9th. First American Financial's payout ratio is 119.34%.

First American Financial declared that its board has authorized a stock repurchase program on Wednesday, July 23rd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on FAF. Wall Street Zen downgraded shares of First American Financial from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $77.00 to $79.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Barclays decreased their target price on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, First American Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

First American Financial Company 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.