Polymer Capital Management US LLC Makes New Investment in First American Financial Co. (NYSE:FAF)

Polymer Capital Management US LLC purchased a new stake in First American Financial Co. (NYSE:FAF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,600 shares of the insurance provider's stock, valued at approximately $287,000.

A number of other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of First American Financial in the third quarter worth $95,638,000. Norges Bank acquired a new position in First American Financial during the 4th quarter worth $75,780,000. FMR LLC increased its position in shares of First American Financial by 20.8% in the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock worth $377,559,000 after purchasing an additional 1,042,145 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of First American Financial by 13,222.0% in the 4th quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock valued at $53,029,000 after purchasing an additional 842,904 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in First American Financial by 6,233.2% in the fourth quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock worth $44,096,000 after purchasing an additional 695,060 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company's stock.

Analysts Set New Price Targets

FAF has been the topic of several research reports. Keefe, Bruyette & Woods upgraded First American Financial from a "market perform" rating to an "outperform" rating and set a $75.00 price objective on the stock in a research note on Tuesday, April 8th. Stephens raised their price objective on First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th.

First American Financial Price Performance

NYSE:FAF traded down $0.61 during midday trading on Friday, reaching $59.37. 1,107,122 shares of the company traded hands, compared to its average volume of 649,293. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 47.50 and a beta of 1.23. The company has a fifty day moving average price of $63.67 and a 200 day moving average price of $64.08. First American Financial Co. has a twelve month low of $51.60 and a twelve month high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. On average, equities research analysts forecast that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.54 per share. The ex-dividend date was Monday, March 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.64%. First American Financial's dividend payout ratio is presently 172.80%.

Insider Buying and Selling

In other news, CFO Mark Edward Seaton sold 12,679 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $64.28, for a total transaction of $815,006.12. Following the transaction, the chief financial officer now directly owns 195,812 shares of the company's stock, valued at approximately $12,586,795.36. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lisa W. Cornehl sold 3,057 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total transaction of $200,202.93. Following the completion of the sale, the senior vice president now directly owns 23,825 shares of the company's stock, valued at $1,560,299.25. The trade was a 11.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,707 shares of company stock valued at $8,136,565 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

First American Financial Profile

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