Squarepoint Ops LLC Takes $1.64 Million Position in First American Financial Co. (NYSE:FAF)

Squarepoint Ops LLC purchased a new stake in First American Financial Co. (NYSE:FAF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,291 shares of the insurance provider's stock, valued at approximately $1,642,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust raised its holdings in shares of First American Financial by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider's stock valued at $84,000 after buying an additional 173 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of First American Financial by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 3,247 shares of the insurance provider's stock valued at $203,000 after buying an additional 179 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of First American Financial by 18.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider's stock valued at $94,000 after buying an additional 230 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of First American Financial by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 84,344 shares of the insurance provider's stock valued at $5,266,000 after buying an additional 230 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of First American Financial by 57.6% in the fourth quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock valued at $42,000 after buying an additional 245 shares during the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Up 1.1%

NYSE FAF traded up $0.63 during trading hours on Tuesday, hitting $55.78. 887,301 shares of the stock were exchanged, compared to its average volume of 696,392. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 44.63 and a beta of 1.29. First American Financial Co. has a 12-month low of $51.85 and a 12-month high of $70.92. The stock has a 50-day moving average of $59.78 and a 200 day moving average of $62.66.

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

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.54 per share. The ex-dividend date is Monday, June 9th. This represents a $2.16 annualized dividend and a yield of 3.87%. First American Financial's payout ratio is currently 143.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FAF. Keefe, Bruyette & Woods upped their target price on shares of First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays increased their price target on shares of First American Financial from $69.00 to $72.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Finally, Stephens increased their price target on shares of First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

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.