SG Americas Securities LLC raised its stake in shares of First American Financial Co. (NYSE:FAF – Get Rating) by 38.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,140 shares of the insurance provider’s stock after buying an additional 4,169 shares during the period. SG Americas Securities LLC’s holdings in First American Financial were worth $981,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HG Vora Capital Management LLC raised its holdings in First American Financial by 8.4% during the fourth quarter. HG Vora Capital Management LLC now owns 10,300,000 shares of the insurance provider’s stock worth $805,769,000 after purchasing an additional 800,000 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of First American Financial by 56.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,751,230 shares of the insurance provider’s stock worth $136,999,000 after buying an additional 634,833 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of First American Financial by 84.6% in the fourth quarter. Invesco Ltd. now owns 498,062 shares of the insurance provider’s stock valued at $38,962,000 after buying an additional 228,233 shares during the period. Victory Capital Management Inc. boosted its stake in First American Financial by 21.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,210,488 shares of the insurance provider’s stock valued at $94,696,000 after buying an additional 212,653 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its holdings in First American Financial by 280.5% during the fourth quarter. Great Lakes Advisors LLC now owns 269,799 shares of the insurance provider’s stock worth $21,106,000 after acquiring an additional 198,885 shares during the period. 84.95% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on FAF. Truist Financial reduced their price objective on shares of First American Financial from $86.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Barclays decreased their price target on shares of First American Financial from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. Finally, BTIG Research reduced their price objective on First American Financial from $81.00 to $79.00 and set a “buy” rating for the company in a research note on Friday, July 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.68.
Insider Transactions at First American Financial
In related news, COO Christopher Michael Leavell sold 39,206 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $59.61, for a total transaction of $2,337,069.66. Following the transaction, the chief operating officer now directly owns 166,465 shares of the company’s stock, valued at $9,922,978.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by insiders.
First American Financial Stock Performance
Shares of NYSE:FAF opened at $58.00 on Friday. The firm has a 50 day simple moving average of $55.48 and a 200 day simple moving average of $62.48. First American Financial Co. has a 52 week low of $48.81 and a 52 week high of $81.54. The company has a market cap of $6.23 billion, a PE ratio of 5.84 and a beta of 1.22.
First American Financial (NYSE:FAF – Get Rating) last released its earnings results on Thursday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.35. First American Financial had a return on equity of 15.61% and a net margin of 11.98%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities analysts predict that First American Financial Co. will post 6.21 earnings per share for the current year.
First American Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 8th were issued a $0.51 dividend. The ex-dividend date was Tuesday, June 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.52%. First American Financial’s dividend payout ratio is 20.54%.
First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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