Reinhart Partners LLC. Purchases 13,286 Shares of First American Financial Corporation $FAF

Reinhart Partners LLC. grew its position in shares of First American Financial Corporation (NYSE:FAF) by 1.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,217,263 shares of the insurance provider’s stock after acquiring an additional 13,286 shares during the quarter. First American Financial comprises approximately 2.6% of Reinhart Partners LLC.’s holdings, making the stock its 14th largest holding. Reinhart Partners LLC. owned 1.18% of First American Financial worth $74,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAF. Principal Financial Group Inc. lifted its position in First American Financial by 0.3% in the first quarter. Principal Financial Group Inc. now owns 236,876 shares of the insurance provider’s stock worth $15,546,000 after buying an additional 794 shares during the last quarter. GAMMA Investing LLC lifted its position in First American Financial by 23.9% in the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider’s stock worth $87,000 after buying an additional 256 shares during the last quarter. Cetera Investment Advisers lifted its position in First American Financial by 137.8% in the first quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock worth $1,384,000 after buying an additional 12,222 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in First American Financial by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 132,150 shares of the insurance provider’s stock worth $8,673,000 after purchasing an additional 3,557 shares during the period. Finally, Bar Harbor Wealth Management increased its stake in First American Financial by 30.5% in the first quarter. Bar Harbor Wealth Management now owns 126,093 shares of the insurance provider’s stock worth $8,275,000 after purchasing an additional 29,466 shares during the period. 89.05% of the stock is currently owned by institutional investors.

Insider Transactions at First American Financial

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total transaction of $229,705.00. Following the completion of the transaction, the director directly owned 28,095 shares of the company’s stock, valued at approximately $1,843,874.85. This trade represents a 11.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

First American Financial Stock Performance

Shares of NYSE FAF opened at $65.86 on Wednesday. The company has a market cap of $6.70 billion, a PE ratio of 36.39 and a beta of 1.27. The business has a 50-day simple moving average of $62.76 and a two-hundred day simple moving average of $61.39. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.13. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $1.27 earnings per share. On average, sell-side analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial declared that its board has initiated a share repurchase plan on Wednesday, July 23rd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

First American Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be issued a $0.55 dividend. This is a boost from First American Financial’s previous quarterly dividend of $0.54. The ex-dividend date is Monday, September 22nd. This represents a $2.20 annualized dividend and a yield of 3.3%. First American Financial’s dividend payout ratio is currently 119.34%.

Analyst Upgrades and Downgrades

FAF has been the topic of a number of recent analyst reports. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Barclays reduced their target price on First American Financial from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased their target price on 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.00.

About First American Financial

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.