Ogborne Capital Management LLC Acquires Shares of 50,000 First American Financial Co. (NYSE:FAF)

Ogborne Capital Management LLC acquired a new stake in First American Financial Co. (NYSE:FAF) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 50,000 shares of the insurance provider’s stock, valued at approximately $3,222,000. First American Financial accounts for about 1.0% of Ogborne Capital Management LLC’s investment portfolio, making the stock its 16th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Park West Asset Management LLC bought a new stake in shares of First American Financial during the 4th quarter worth approximately $12,695,000. Basswood Capital Management L.L.C. lifted its holdings in shares of First American Financial by 91.5% during the 4th quarter. Basswood Capital Management L.L.C. now owns 455,127 shares of the insurance provider’s stock worth $29,328,000 after acquiring an additional 217,496 shares during the period. Verition Fund Management LLC lifted its holdings in shares of First American Financial by 21.3% during the 4th quarter. Verition Fund Management LLC now owns 196,081 shares of the insurance provider’s stock worth $12,635,000 after acquiring an additional 34,444 shares during the period. Natixis Investment Managers International bought a new stake in shares of First American Financial during the 4th quarter worth approximately $259,000. Finally, Cibc World Markets Corp bought a new stake in shares of First American Financial during the 4th quarter worth approximately $8,699,000. Institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

FAF stock opened at $53.07 on Friday. The company has a 50 day simple moving average of $55.44 and a 200 day simple moving average of $58.52. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 25.39 and a beta of 1.28. 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) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.22). First American Financial had a net margin of 3.64% and a return on equity of 8.17%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $0.49 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that First American Financial Co. will post 3.97 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.99%. The ex-dividend date is Monday, June 10th. First American Financial’s dividend payout ratio (DPR) is currently 101.44%.

Wall Street Analyst Weigh In

FAF has been the subject of a number of recent analyst reports. TheStreet downgraded shares of First American Financial from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $66.00 to $69.00 in a report on Thursday, March 21st. Finally, Stephens reiterated an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.75.

First American Financial Company 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.