Entropy Technologies LP Takes Position in First American Financial Corporation $FAF

Entropy Technologies LP acquired a new position in First American Financial Corporation (NYSE:FAF) during the first quarter, Holdings Channel reports. The firm acquired 13,526 shares of the insurance provider’s stock, valued at approximately $815,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FAF. Gabelli Funds LLC boosted its stake in First American Financial by 24.7% during the first quarter. Gabelli Funds LLC now owns 98,962 shares of the insurance provider’s stock valued at $5,966,000 after buying an additional 19,600 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in First American Financial by 469.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,284,417 shares of the insurance provider’s stock worth $77,438,000 after acquiring an additional 1,058,949 shares in the last quarter. Lido Advisors LLC bought a new stake in First American Financial in the first quarter worth about $277,000. State of Wyoming lifted its holdings in First American Financial by 155.7% in the 1st quarter. State of Wyoming now owns 7,014 shares of the insurance provider’s stock valued at $423,000 after acquiring an additional 4,271 shares during the last quarter. Finally, Alesco Advisors LLC An ESL Co acquired a new stake in First American Financial in the 1st quarter valued at about $415,000. Institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FAF. Zacks Research cut shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Stephens reissued an “overweight” rating and set a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Benchmark began coverage on shares of First American Financial in a research report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Finally, Truist Financial raised their price objective on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and a consensus price target of $84.60.

Insider Activity at First American Financial

In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of First American Financial stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares in the company, valued at approximately $767,447.66. The trade was a 24.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total transaction of $399,632.49. Following the transaction, the senior vice president owned 29,635 shares in the company, valued at approximately $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is currently owned by corporate insiders.

First American Financial Trading Up 3.8%

NYSE FAF opened at $79.18 on Wednesday. First American Financial Corporation has a 1 year low of $56.20 and a 1 year high of $79.38. The company has a market cap of $8.08 billion, a PE ratio of 10.97, a PEG ratio of 0.71 and a beta of 1.23. The stock’s 50-day moving average price is $68.77 and its two-hundred day moving average price is $66.22.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping the consensus estimate of $1.80 by $0.28. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $1.53 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts forecast that First American Financial Corporation will post 7.02 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, June 8th. First American Financial’s dividend payout ratio is 30.47%.

About First American Financial

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.