First American Financial Corporation (FAF) to Distribute Quarterly Dividend of $0.55 on October 5th

First American Financial Corporation (NYSE:FAF) announced a quarterly dividend on Wednesday, September 16th. Shareholders of record on Monday, September 28th will be paid a dividend of 0.55 per share by the insurance provider on Monday, October 5th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 28th.

First American Financial has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 15 consecutive years. First American Financial has a payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect First American Financial to earn $7.41 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 29.7%.

First American Financial Stock Up 1.2%

FAF opened at $71.99 on Friday. The firm has a market capitalization of $7.35 billion, a P/E ratio of 9.97, a PEG ratio of 0.66 and a beta of 1.21. The stock has a fifty day moving average of $73.10 and a 200-day moving average of $68.53. First American Financial has a 12-month low of $56.20 and a 12-month high of $79.87.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.28. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.03 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.First American Financial’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 earnings per share. On average, analysts expect that First American Financial will post 7.11 earnings per share for the current fiscal year.

Insider Buying and Selling at First American Financial

In other news, CAO Steven Adams sold 3,253 shares of First American Financial stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the sale, the chief accounting officer directly owned 10,234 shares in the company, valued at $767,447.66. The trade was a 24.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On First American Financial

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in First American Financial during the second quarter worth $643,570,000. Dimensional Fund Advisors LP grew its stake in shares of First American Financial by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider’s stock worth $279,529,000 after acquiring an additional 245,279 shares during the last quarter. Capital Research Global Investors increased its position in First American Financial by 3.3% during the fourth quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock worth $209,868,000 after acquiring an additional 109,242 shares during the period. Geode Capital Management LLC increased its position in First American Financial by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,793,179 shares of the insurance provider’s stock worth $110,200,000 after acquiring an additional 19,752 shares during the period. Finally, Reinhart Partners LLC. raised its stake in First American Financial by 1.9% during the 2nd quarter. Reinhart Partners LLC. now owns 1,553,234 shares of the insurance provider’s stock valued at $106,537,000 after purchasing an additional 28,534 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation (NYSE: FAF) provides title insurance, settlement services and risk solutions for real estate transactions. Through its title insurance operations, the company protects property buyers, lenders and other parties against certain losses arising from defects in ownership records, liens and other title-related issues.

The company also offers escrow and closing services, real estate data and analytics, valuation products, and technology solutions designed to support mortgage lenders, real estate professionals, homebuilders and commercial property participants.