Reinhart Partners LLC. Has $74.73 Million Stock Position in First American Financial Corporation $FAF

Key Points

• Reinhart Partners LLC increased its stake in First American Financial by purchasing an additional 13,286 shares, bringing their total ownership to 1,217,263 shares, or about 2.6% of their holdings.
• First American Financial recently reported quarterly earnings of $1.53 per share, surpassing analyst expectations, and announced a share repurchase plan worth $300 million.
• The company declared a quarterly dividend of $0.55, an increase from the previous dividend, representing an annualized yield of 3.3% with a payout ratio of 119.34%.

Reinhart Partners LLC. raised its stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,217,263 shares of the insurance provider's stock after acquiring an additional 13,286 shares during the quarter. First American Financial makes up 2.6% of Reinhart Partners LLC.'s portfolio, making the stock its 14th largest holding. Reinhart Partners LLC. owned about 1.18% of First American Financial worth $74,729,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Alpine Bank Wealth Management acquired a new stake in First American Financial in the first quarter worth about $28,000. Richardson Capital Management LLC acquired a new position in shares of First American Financial during the 1st quarter worth about $39,000. Versant Capital Management Inc grew its position in shares of First American Financial by 645.7% during the 1st quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock worth $63,000 after buying an additional 833 shares during the period. Ransom Advisory Ltd acquired a new position in shares of First American Financial during the 1st quarter worth about $66,000. Finally, UMB Bank n.a. grew its position in shares of First American Financial by 132.1% in the 1st quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock valued at $80,000 after purchasing an additional 692 shares during the period. 89.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FAF shares. Keefe, Bruyette & Woods boosted their price objective on First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Barclays decreased their price objective on 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. Finally, Wall Street Zen upgraded 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 and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.00.

Insider Buying and Selling

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

First American Financial Stock Down 1.6%

Shares of FAF stock traded down $1.10 during trading on Friday, reaching $66.21. 1,466,784 shares of the company's stock were exchanged, compared to its average volume of 667,200. The stock has a market capitalization of $6.74 billion, a PE ratio of 36.58 and a beta of 1.27. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $70.92. The firm's fifty day moving average price is $63.28 and its 200-day moving average price is $61.44.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm posted $1.27 EPS. The company's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 22nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. This is a positive change from First American Financial's previous quarterly dividend of $0.54. First American Financial's payout ratio is currently 119.34%.

First American Financial announced that its board has initiated a stock repurchase program on Wednesday, July 23rd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.