Y Intercept Hong Kong Ltd Sells 20,554 Shares of First American Financial Corporation $FAF

Key Points

• Y Intercept Hong Kong Ltd cut its First American Financial stake by 51.3% in the first quarter, selling 20,554 shares and leaving it with 19,487 shares valued at about $1.18 million.
• First American Financial reported strong quarterly results, posting $1.33 EPS on revenue of $1.85 billion, both ahead of expectations and up 16.2% year over year.
• The company also paid a quarterly dividend of $0.55 per share and has a Wall Street consensus rating of Moderate Buy with an average price target of $84.00, while the stock traded near $69.29.

Y Intercept Hong Kong Ltd reduced its position in First American Financial Corporation (NYSE:FAF - Free Report) by 51.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,487 shares of the insurance provider's stock after selling 20,554 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in First American Financial were worth $1,175,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Strs Ohio boosted its position in First American Financial by 1,287.4% during the first quarter. Strs Ohio now owns 32,327 shares of the insurance provider's stock valued at $1,949,000 after acquiring an additional 29,997 shares during the last quarter. Keybank National Association OH lifted its stake in shares of First American Financial by 49.6% in the 1st quarter. Keybank National Association OH now owns 17,916 shares of the insurance provider's stock valued at $1,080,000 after purchasing an additional 5,940 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of First American Financial by 517.5% during the 1st quarter. Physician Wealth Advisors Inc. now owns 2,081 shares of the insurance provider's stock valued at $125,000 after purchasing an additional 1,744 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in First American Financial during the first quarter worth approximately $117,000. Finally, Janney Montgomery Scott LLC grew its stake in First American Financial by 32.8% during the first quarter. Janney Montgomery Scott LLC now owns 20,261 shares of the insurance provider's stock worth $1,222,000 after purchasing an additional 4,999 shares during the period. Institutional investors own 89.05% of the company's stock.

Insider Buying and Selling at First American Financial

In related news, Director Margaret M. Mccarthy sold 6,630 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $70.59, for a total value of $468,011.70. Following the sale, the director owned 24,024 shares in the company, valued at $1,695,854.16. This represents a 21.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Lisa W. Cornehl sold 5,823 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the completion of the transaction, the senior vice president directly owned 29,635 shares in the company, valued at approximately $2,033,850.05. The trade was a 16.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company's stock.

First American Financial Stock Down 1.4%

NYSE:FAF traded down $0.97 on Friday, hitting $69.29. The stock had a trading volume of 700,734 shares, compared to its average volume of 999,516. The business's fifty day moving average is $67.87 and its 200 day moving average is $65.29. The company has a market cap of $7.06 billion, a PE ratio of 10.64, a P/E/G ratio of 0.67 and a beta of 1.23. First American Financial Corporation has a 52 week low of $54.19 and a 52 week high of $71.93.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company's quarterly revenue was up 16.2% on a year-over-year basis. Equities analysts predict that First American Financial Corporation will post 6.75 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, June 8th. First American Financial's payout ratio is 33.79%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Stephens reissued an "overweight" rating and issued a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods reduced their price objective on shares of First American Financial from $87.00 to $84.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Zacks Research lowered shares of First American Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Barclays boosted their target price on shares of First American Financial from $80.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Truist Financial increased their target price on shares of First American Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.00.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company's title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.

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