Spark Investment Management LLC Decreases Position in First American Corporation (The) (FAF)

Spark Investment Management LLC reduced its position in First American Corporation (The) (NYSE:FAF) by 49.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,600 shares of the insurance provider’s stock after selling 28,500 shares during the period. Spark Investment Management LLC’s holdings in First American Corporation (The) were worth $1,322,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Creative Planning increased its position in shares of First American Corporation (The) by 5.3% in the second quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after buying an additional 114 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in shares of First American Corporation (The) by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 2,960 shares of the insurance provider’s stock worth $116,000 after buying an additional 80 shares in the last quarter. Tyers Asset Management LLC increased its position in shares of First American Corporation (The) by 2.8% in the first quarter. Tyers Asset Management LLC now owns 4,070 shares of the insurance provider’s stock worth $160,000 after buying an additional 110 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of First American Corporation (The) during the first quarter worth approximately $169,000. Finally, Flinton Capital Management LLC increased its position in shares of First American Corporation (The) by 2.8% in the first quarter. Flinton Capital Management LLC now owns 5,180 shares of the insurance provider’s stock worth $203,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

Shares of First American Corporation (NYSE FAF) traded down 0.45% during trading on Friday, reaching $48.15. 630,819 shares of the company’s stock were exchanged. First American Corporation has a 12-month low of $35.28 and a 12-month high of $49.48. The stock has a market cap of $5.33 billion, a P/E ratio of 14.60 and a beta of 0.73. The company has a 50 day moving average of $46.81 and a 200 day moving average of $42.28.

First American Corporation (The) (NYSE:FAF) last issued its earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.18. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts anticipate that First American Corporation will post $3.46 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be issued a $0.38 dividend. This is a boost from First American Corporation (The)’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.16%. First American Corporation (The)’s dividend payout ratio is presently 41.21%.

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A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of First American Corporation (The) from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Monday, May 1st. BidaskClub upgraded shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th.

First American Corporation (The) Company Profile

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.

Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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