First American Financial Corp (FAF) Expected to Post Quarterly Sales of $1.47 Billion

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Equities analysts expect First American Financial Corp (NYSE:FAF) to announce sales of $1.47 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for First American Financial’s earnings. The highest sales estimate is $1.47 billion and the lowest is $1.46 billion. First American Financial posted sales of $1.48 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.7%. The company is scheduled to issue its next earnings results on Thursday, February 14th.

On average, analysts expect that First American Financial will report full-year sales of $5.80 billion for the current financial year, with estimates ranging from $5.79 billion to $5.80 billion. For the next fiscal year, analysts expect that the business will post sales of $5.77 billion, with estimates ranging from $5.69 billion to $5.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow First American Financial.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.02). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. First American Financial had a return on equity of 13.68% and a net margin of 10.39%.

Several brokerages have recently issued reports on FAF. Piper Jaffray Companies lifted their price objective on shares of First American Financial from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. ValuEngine cut shares of First American Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research note on Monday, July 16th. Finally, Zacks Investment Research cut shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.50.

Shares of FAF traded down $0.02 during mid-day trading on Friday, hitting $46.56. The company’s stock had a trading volume of 479,900 shares, compared to its average volume of 720,002. The stock has a market capitalization of $5.08 billion, a P/E ratio of 16.90, a P/E/G ratio of 0.78 and a beta of 0.84. First American Financial has a fifty-two week low of $41.96 and a fifty-two week high of $62.71.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, December 7th. First American Financial’s dividend payout ratio (DPR) is currently 61.09%.

In other news, EVP Kenneth D. Degiorgio sold 13,871 shares of First American Financial stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $57.25, for a total value of $794,114.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew F. Wajner sold 4,982 shares of First American Financial stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $57.29, for a total transaction of $285,418.78. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FAF. Principal Financial Group Inc. increased its position in shares of First American Financial by 70.7% in the first quarter. Principal Financial Group Inc. now owns 966,832 shares of the insurance provider’s stock worth $56,733,000 after acquiring an additional 400,378 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of First American Financial by 28.2% in the first quarter. Allianz Asset Management GmbH now owns 1,586,631 shares of the insurance provider’s stock worth $93,104,000 after acquiring an additional 349,008 shares in the last quarter. Clinton Group Inc. purchased a new position in shares of First American Financial in the second quarter worth approximately $2,122,000. State of Alaska Department of Revenue increased its position in shares of First American Financial by 40.0% in the second quarter. State of Alaska Department of Revenue now owns 11,820 shares of the insurance provider’s stock worth $611,000 after acquiring an additional 3,380 shares in the last quarter. Finally, Denali Advisors LLC increased its position in shares of First American Financial by 420.0% in the second quarter. Denali Advisors LLC now owns 7,800 shares of the insurance provider’s stock worth $403,000 after acquiring an additional 6,300 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

About First American Financial

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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