40,327 Shares in First American Financial Corporation $FAF Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired a new position in First American Financial Corporation, purchasing 40,327 shares valued at approximately $2.6 million in the first quarter.
• First American Financial increased its quarterly dividend from $0.54 to $0.55 per share, representing a 3.3% dividend yield, with a payout ratio currently at 119.34%.
• Analysts have a consensus rating of "Moderate Buy" for First American Financial, with a current target price of $75.00, indicating bullish expectations for the stock's performance.

Strs Ohio purchased a new stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 40,327 shares of the insurance provider's stock, valued at approximately $2,647,000.

Several other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its holdings in First American Financial by 23.0% during the 1st quarter. Boston Partners now owns 4,692,258 shares of the insurance provider's stock valued at $307,181,000 after buying an additional 876,874 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First American Financial by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,150,660 shares of the insurance provider's stock valued at $272,406,000 after purchasing an additional 187,144 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in First American Financial by 6.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,626,142 shares of the insurance provider's stock valued at $106,724,000 after purchasing an additional 95,165 shares during the last quarter. Reinhart Partners LLC. grew its stake in shares of First American Financial by 15.5% in the 1st quarter. Reinhart Partners LLC. now owns 1,203,977 shares of the insurance provider's stock worth $79,017,000 after buying an additional 161,819 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of First American Financial by 3.2% in the 1st quarter. Northern Trust Corp now owns 1,063,232 shares of the insurance provider's stock worth $69,780,000 after buying an additional 32,610 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company's stock.

Insiders Place Their Bets

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the firm'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 owned 28,095 shares in the company, valued at approximately $1,843,874.85. This trade represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

FAF has been the subject of several analyst reports. Barclays decreased their price objective on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First American Financial from $77.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

First American Financial Stock Down 1.6%

Shares of NYSE FAF traded down $1.10 during midday trading on Friday, reaching $66.21. 1,466,784 shares of the stock were exchanged, compared to its average volume of 667,200. The firm has a 50-day simple moving average of $63.28 and a two-hundred day simple moving average of $61.46. The firm has a market cap of $6.74 billion, a price-to-earnings 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.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.13. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The firm's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 EPS. Research analysts expect that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial announced that its Board of Directors has initiated a share 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 repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, September 22nd. This is an increase from First American Financial's previous quarterly dividend of $0.54. First American Financial's payout ratio is 119.34%.

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.