First American Financial Co. (NYSE:FAF) Shares Purchased by Prospector Partners LLC

Prospector Partners LLC boosted its position in First American Financial Co. (NYSE:FAF) by 0.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 89,225 shares of the insurance provider’s stock after buying an additional 415 shares during the period. Prospector Partners LLC’s holdings in First American Financial were worth $5,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in First American Financial by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after buying an additional 515,710 shares during the period. Boston Partners boosted its stake in shares of First American Financial by 13.3% during the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after acquiring an additional 479,618 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of First American Financial by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock worth $164,746,000 after acquiring an additional 405,146 shares in the last quarter. Reinhart Partners LLC. grew its holdings in shares of First American Financial by 65.8% in the 2nd quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock worth $50,916,000 after acquiring an additional 374,662 shares during the period. Finally, AQR Capital Management LLC increased its stake in First American Financial by 245.1% in the 2nd quarter. AQR Capital Management LLC now owns 419,995 shares of the insurance provider’s stock valued at $22,659,000 after purchasing an additional 298,302 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial lifted their price target on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their target price on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Stephens increased their price target on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Barclays lifted their price objective on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Price Performance

NYSE FAF opened at $69.64 on Tuesday. The company has a market cap of $7.17 billion, a P/E ratio of 78.23 and a beta of 1.29. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The company has a 50-day moving average of $64.92 and a 200-day moving average of $60.37.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. First American Financial’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 earnings per share. As a group, equities research analysts anticipate that First American Financial Co. will post 4.04 EPS for the current year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Monday, December 9th. First American Financial’s payout ratio is currently 242.70%.

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.