Tudor Investment Corp ET AL Invests $5.05 Million in First American Financial Corporation $FAF

Tudor Investment Corp ET AL purchased a new position in First American Financial Corporation (NYSE:FAF) during the third quarter, HoldingsChannel reports. The firm purchased 78,554 shares of the insurance provider’s stock, valued at approximately $5,046,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in First American Financial by 121.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 813 shares during the period. Goldman Sachs Group Inc. raised its holdings in First American Financial by 10.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock worth $19,233,000 after purchasing an additional 28,666 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in First American Financial by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock worth $27,180,000 after purchasing an additional 27,600 shares during the period. Jane Street Group LLC raised its holdings in First American Financial by 182.5% in the 1st quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock worth $4,435,000 after purchasing an additional 43,651 shares during the period. Finally, Focus Partners Wealth raised its holdings in First American Financial by 11.3% in the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 435 shares during the period. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Parker S. Kennedy bought 44,841 shares of First American Financial stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares of the company’s stock, valued at $17,067,803.20. This trade represents a 21.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

First American Financial Trading Up 4.2%

Shares of FAF stock opened at $63.40 on Thursday. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $71.47. The stock’s 50-day moving average price is $64.29 and its 200-day moving average price is $63.28. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.60 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.50. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. The business’s revenue was up 21.6% compared to the same quarter last year. As a group, research analysts predict that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 9th. First American Financial’s payout ratio is 36.61%.

Analysts Set New Price Targets

A number of brokerages recently commented on FAF. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Truist Financial raised their target price on First American Financial from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Stephens raised First American Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $81.00 in a report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, First American Financial presently has a consensus rating of “Buy” and an average target price of $79.00.

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.