Penserra Capital Management LLC Raises Stock Position in First American Financial Corp (NYSE:FAF)
Penserra Capital Management LLC boosted its stake in shares of First American Financial Corp (NYSE:FAF) by 55.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,232 shares of the insurance provider’s stock after purchasing an additional 442 shares during the period. Penserra Capital Management LLC’s holdings in First American Financial were worth $77,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in FAF. Squar Milner Financial Services LLC increased its holdings in First American Financial by 208.4% in the 4th quarter. Squar Milner Financial Services LLC now owns 512 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of First American Financial in the 4th quarter valued at $31,000. Great Diamond Partners LLC acquired a new stake in shares of First American Financial during the fourth quarter worth $46,000. Price Capital Management Inc. acquired a new stake in shares of First American Financial during the fourth quarter worth $47,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of First American Financial by 20.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,440 shares of the insurance provider’s stock worth $84,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 85.67% of the company’s stock.
FAF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised First American Financial from a “market perform” rating to an “outperform” rating in a research report on Monday, December 9th. Compass Point upgraded First American Financial from a “neutral” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, March 5th. ValuEngine upgraded First American Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 3rd. Stephens increased their price target on First American Financial from $71.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Zacks Investment Research upgraded First American Financial from a “hold” rating to a “strong-buy” rating and set a $75.00 price target for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $71.86.
First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, February 13th. The insurance provider reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.45. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a return on equity of 15.68% and a net margin of 11.41%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the business posted $1.27 EPS. On average, research analysts expect that First American Financial Corp will post 5.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, March 6th. This is a boost from First American Financial’s previous quarterly dividend of $0.42. First American Financial’s dividend payout ratio is 30.56%.
About First American Financial
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
Further Reading: What are the benefits of momentum investing?
Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.