First American Financial (FAF) Issues Quarterly Earnings Results
First American Financial (NYSE:FAF) issued its quarterly earnings results on Thursday. The insurance provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04, Morningstar.com reports. First American Financial had a net margin of 7.33% and a return on equity of 13.92%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $0.92 EPS. The company’s revenue was down 1.5% compared to the same quarter last year.
Shares of First American Financial (FAF) opened at $54.32 on Friday. First American Financial has a 52 week low of $37.51 and a 52 week high of $62.71. The stock has a market cap of $5,940.00, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.00 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $1.52 annualized dividend and a yield of 2.80%. First American Financial’s payout ratio is currently 40.43%.
In other First American Financial news, COO Christopher Michael Leavell sold 75,843 shares of First American Financial stock in a transaction on Friday, December 1st. The shares were sold at an average price of $55.25, for a total value of $4,190,325.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in FAF. PNC Financial Services Group Inc. increased its stake in shares of First American Financial by 55.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,009 shares of the insurance provider’s stock worth $626,000 after purchasing an additional 4,999 shares during the last quarter. Suntrust Banks Inc. acquired a new position in shares of First American Financial during the 2nd quarter worth about $207,000. Parametric Portfolio Associates LLC increased its stake in shares of First American Financial by 5.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 157,080 shares of the insurance provider’s stock worth $7,020,000 after purchasing an additional 8,728 shares during the last quarter. Stifel Financial Corp increased its stake in shares of First American Financial by 17.9% during the 2nd quarter. Stifel Financial Corp now owns 13,083 shares of the insurance provider’s stock worth $586,000 after purchasing an additional 1,989 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of First American Financial during the 2nd quarter worth about $516,000. Institutional investors own 84.06% of the company’s stock.
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About First American Financial
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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