First American Financial Co. (NYSE:FAF) Shares Purchased by Cambridge Investment Research Advisors Inc. (2024)

Posted by Defense World Staff on Jan 26th, 2024

Cambridge Investment Research Advisors Inc. increased its stake in First American Financial Co. (NYSE:FAF – Free Report) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,122 shares of the insurance provider’s stock after purchasing an additional 429 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in First American Financial were worth $233,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FAF. Point72 Hong Kong Ltd acquired a new position in First American Financial in the 2nd quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. bought a new position in shares of First American Financial in the second quarter valued at $41,000. Brown Brothers Harriman & Co. bought a new position in First American Financial during the 1st quarter worth $46,000. Industrial Alliance Investment Management Inc. grew its stake in First American Financial by 161.3% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock worth $48,000 after buying an additional 571 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in First American Financial in the 1st quarter valued at approximately $55,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analysts Set New Price Targets

FAF has been the topic of a number of research analyst reports. Barclays assumed coverage on First American Financial in a research note on Wednesday, November 15th. They issued an “equal weight” rating and a $53.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $72.00 target price on shares of First American Financial in a research note on Wednesday, October 11th. StockNews.com downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of First American Financial in a research report on Wednesday, January 10th. They set a “buy” rating for the company. Finally, Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $62.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.00.

Read Our Latest Analysis on First American Financial

Insider Buying and Selling

In other First American Financial news, CAO Steven A. Adams sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.20, for a total value of $101,160.00. Following the completion of the sale, the chief accounting officer now owns 7,487 shares of the company’s stock, valued at $420,769.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

First American Financial Trading Up 0.8 %

Shares of First American Financial stock opened at $60.73 on Friday. The company has a market cap of $6.27 billion, a P/E ratio of 26.75 and a beta of 1.31. The business has a 50-day moving average price of $61.45 and a two-hundred day moving average price of $59.03. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $65.54.

First American Financial (NYSE:FAF – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. First American Financial had a return on equity of 9.82% and a net margin of 3.78%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. First American Financial’s revenue was down 18.8% on a year-over-year basis. Equities research analysts forecast that First American Financial Co. will post 4.14 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 8th were paid a $0.53 dividend. The ex-dividend date was Thursday, December 7th. This represents a $2.12 annualized dividend and a dividend yield of 3.49%. First American Financial’s dividend payout ratio is presently 93.39%.

First American Financial Company Profile

(Free Report)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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Now, let's delve into the key concepts and terms mentioned in the article regarding Cambridge Investment Research Advisors Inc. and its activities related to First American Financial Co. (NYSE: FAF):

Cambridge Investment Research Advisors Inc.: This is an investment advisory firm that manages investment portfolios for its clients. It files Form 13F with the Securities & Exchange Commission (SEC), which discloses its holdings of publicly traded securities.
Stake Increase: Cambridge Investment Research Advisors Inc. increased its stake in First American Financial Co. by 11.6% during the 3rd quarter. This indicates that the firm bought additional shares of First American Financial during that period.
Form 13F Filing: Form 13F is a quarterly report filed by institutional investment managers with at least $100 million in assets under management. It discloses their equity holdings, including stocks, options, and convertible notes.
Hedge Funds: Several other hedge funds, including Point72 Hong Kong Ltd, PCA Investment Advisory Services Inc., Brown Brothers Harriman & Co., Industrial Alliance Investment Management Inc., and Sunbelt Securities Inc., have either acquired new positions or increased their stakes in First American Financial during different quarters.
Analysts' Ratings and Price Targets: Analysts from various financial institutions have provided ratings and price targets for First American Financial stock. These include ratings such as "equal weight," "overweight," "hold," and "buy," along with corresponding target prices.
Insider Buying and Selling: The Chief Accounting Officer (CAO) of First American Financial, Steven A. Adams, sold 1,800 shares of the company's stock, indicating insider selling activity.
Market Data: First American Financial stock opened at $60.73 on the reported date, with a market capitalization of $6.27 billion, a price-to-earnings (P/E) ratio of 26.75, and a beta of 1.31.
Dividend Announcements: First American Financial declared a quarterly dividend, indicating its commitment to returning value to shareholders. The ex-dividend date, record date, and dividend amount are provided.
Company Profile: First American Financial Corporation provides financial services through its subsidiaries, operating in segments including Title Insurance and Services, and Specialty Insurance.

Understanding these concepts provides valuable insights into the investment activities, market dynamics, and financial performance of First American Financial Co.