Nordea Investment Management AB, a Swedish institutional investor, has increased its holdings in shares of First American Financial Co. by 8.3% during the second quarter of this year, according to its recent filing with the Securities and Exchange Commission (SEC). The company now owns 166,259 shares of the insurance provider’s stock, representing an additional 12,783 shares purchased during that period. Based on Nordea Investment Management AB’s most recent SEC filing, the total value of these shares amounts to $9,483,000 which accounts for approximately 0.16% of First American Financial’s market worth.
First American Financial recently declared a quarterly dividend which was paid on September 15th. The dividend payout amounted to $0.53 per share for investors who were recorded as shareholders on September 8th. This translates to an annualized dividend of $2.12 with a yield of 3.52%. It is important to note that this dividend increase from the previous quarter’s payout which stood at $0.52 per share demonstrates First American Financial’s commitment towards providing value to its shareholders.
The ex-dividend date for this given payout was set on September 7th. Considering First American Financial’s solid performance and consistent earnings growth, such dividends are particularly appealing to investors seeking both reliable income and long-term capital appreciation.
First American Financial is a leading provider of title insurance and settlement services within the real estate industry in the United States. Over time, the company has built a strong reputation for its expertise in facilitating real estate transactions and ensuring their legality and security. With its diversified product portfolio and extensive expertise in closing properties smoothly and efficiently throughout multiple markets, First American Financial has positioned itself strongly within the industry.
The company’s financial stability is evident from its consistently high dividend payout ratio (DPR). As stated in its most recent filing with SEC, First American Financial currently maintains a DPR of 91.78%. This ratio indicates the percentage of earnings that the company distributes to its shareholders in the form of dividends. A high DPR reflects the company’s commitment to rewarding its investors while simultaneously retaining sufficient cash flow for future growth and development.
In conclusion, Nordea Investment Management AB’s recent increase in holdings of First American Financial demonstrates a positive outlook on the company’s prospects and potential for further growth. Moreover, First American Financial’s commitment towards enhancing shareholder value is evident from its recent increase in dividend payouts. Considering its solid performance within the real estate industry and consistently high dividend payout ratio, First American Financial offers an attractive investment opportunity for investors seeking both income and long-term capital appreciation.
– Securities and Exchange Commission (SEC) filing by Nordea Investment Management AB
– Company announcement regarding quarterly dividend payout by First American Financial Co. (NYSE:FAF)
Institutional Investors and Hedge Funds Show Growing Interest in First American Financial Stock
First American Financial is receiving attention from hedge funds and institutional investors as they make significant moves in the company’s stock. EP Wealth Advisors LLC, for instance, acquired a new position in First American Financial during the first quarter of this year with a value of $690,000. In addition, Brandywine Global Investment Management LLC increased its stake in the insurance provider by 12.4% during the same period. The company now owns 65,507 shares of First American Financial stock worth $3,646,000 after purchasing an additional 7,227 shares.
Sunbelt Securities Inc. also jumped on board and purchased a new position in First American Financial valued at $55,000 during the first quarter. Mercer Global Advisors Inc. ADV followed suit and boosted its stake by 18.9%, owning 37,124 shares worth $2,066,000 after buying an extra 5,898 shares last quarter. Lastly, Hancock Whitney Corp increased its position in First American Financial by 17%, ending up with ownership of 38,332 shares valued at $2,134,000.
The staggering fact is that these institutional investors and hedge funds own approximately 85.53% of First American Financial’s stock.
Multiple research analysts have weighed in on the company as well. Stephens raised their price target on First American Financial from $71 to $72 and assigned it an “overweight” rating. Similarly,SpectralCast maintained its positive view on the company’s performance while BTIG Research provided a neutral rating. StockNews.com even upgraded its assessment from “hold” to “buy.” Finally,Ttruist Financial raised its price target from $67 to $77 and gave a resounding “buy” rating.
Out of all the research analysts mentioned above,Tweo analysts rated First American Financial as a hold while four analysts gave it a buy recommendation.Currently,Average ratings put forward by Bloomberg suggest that it has a “Moderate Buy” status with an average price target of $68.25.
As of Wednesday, the company’s shares started trading at $60.22. The market capitalization for First American Financial is estimated to be around $6.21 billion, while its PE ratio stands at 26.07 and beta at 1.26. Its 12-month low was recorded at $43.54 and its 12-month high at $64.66.
To analyze the company’s performance in more detail, it’s worth taking into account its most recent quarterly earnings data issued by First American Financial on July 27th.The insurance provider reported earnings per share (EPS) of $1.35 for the quarter, surpassing the consensus estimate of $0.96 by a significant margin of $0.39.
Furthermore,the company generated revenue amounting to $1.65 billion, beating the consensus estimate of $1.50 billion.Lastly,First American Financial achieved a return on equity of 10.72% and a net margin of 3.64%.
Analysts anticipate that First American Financial will register an EPS of 4.33 in this fiscal year.
With hedge funds and institutional investors showing increasing interest in First American Financial stock and research analysts maintaining an optimistic outlook on its future,some investors may view this as an opportune moment to delve further into the potential benefits associated with investing in the insurance provider.