Shares are trading at $54.42 a tad higher than $50.26, the 50 day moving average and which is significantly higher than the 200 day moving average of $46.37. The 50 day moving average went up by +8.27% and the 200 day average went up by +17.35%. 884K shares changed hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 36.51% over the normal average daily volume.
Investors are a little more bullish on shares of the company lately as inferred by the fall in short interest. The stock recorded a fall in short interest between September 29, 2017 and October 13, 2017 of -14.97%. Short shares fell from 2,560,042 to 2,176,784 over that period. The short-interest ratio decreased to 4.0 and the percentage of shorted shares is 0.02% as of October 13.
First American Corporation (New (NYSE:FAF) has been the object of insider selling activity recently. Mark Edward Seaton, EVP reported the sale of 7,000 shares of (FAF). The shares were purchased at an average price of $48.33. Seaton now owns $5,214,952 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (FAF). First Trust Advisors Lp cut its ownership by selling 36,556 shares a decrease of 9.0%. First Trust Advisors Lp controls 367,649 shares worth $18,371,000. The value of the position overall is up by 1.7%. As of the end of the quarter Hamlin Capital Management, LLC had sold a total of 9,867 shares trimming its stake by 0.7%. The value in dollars increased from $63,080,000 to $70,040,000 a change of 11.0% since the last quarter.
Aperio Group, LLC added to its holdings by buying 40,406 shares an increase of 49.9% from 06/30/2017 to 09/30/2017. Aperio Group, LLC currently owns 121,423 shares valued at $6,068,000. The total value of its holdings increased 67.6%. As of quarter end Parametrica Management Ltd had acquired 558 shares growing its position 11.2%. The value of the total investment in First American Corporation (New went from $222,000 to $276,000 a change of $54,000 for the reporting period.
October 27 investment analysts at Barclays held the stock rating at “Overweight” but raised the price expectation from $41.00 to $60.00.
In the market the company is trading up by 2.35% percent from yesterday’s close. First American Corporation (New also declared a dividend that was paid on Friday September 15th, 2017. The dividend payment was $0.380 per share for the quarter which is $1.52 annualized. This dividend represents a yield of $2.85. The ex-dividend date was set for Thursday the 7th of September 2017.
The P/E ratio is currently 16.50 and market capitalization is 6.03B. In the last earnings report the EPS was $3.30 and is estimated to be $3.38 for the current year with 110,721,000 shares currently outstanding. Next quarter’s EPS is expected be $0.58 with next year’s EPS anticipated to be $3.75.
First American Financial Corporation, launched on January 14, 2008, through its subsidiaries, is involved 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. The specialty insurance segment issues property and casualty insurance policies and sells home warranty products. The Business’s corporate function consists of certain financing facilities, as well as the corporate services that support its business operations. Its subsidiaries include Data Trace Information Services LLC, FATCO Holdings, LLC, First American Exchange Company, LLC, First American Property & Casualty Insurance Company, First American Title Company of Oregon and First American Title Company, Inc..