D.A. Davidson & CO. Sells 901 Shares of First American Financial Co. (NYSE:FAF)

D.A. Davidson & CO. reduced its holdings in shares of First American Financial Co. (NYSE:FAFGet Rating) by 14.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,500 shares of the insurance provider’s stock after selling 901 shares during the quarter. D.A. Davidson & CO.’s holdings in First American Financial were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. HG Vora Capital Management LLC grew its stake in shares of First American Financial by 8.4% during the 4th quarter. HG Vora Capital Management LLC now owns 10,300,000 shares of the insurance provider’s stock worth $805,769,000 after acquiring an additional 800,000 shares in the last quarter. State Street Corp grew its stake in shares of First American Financial by 2.3% in the fourth quarter. State Street Corp now owns 3,102,894 shares of the insurance provider’s stock valued at $242,739,000 after buying an additional 68,969 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of First American Financial by 56.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,751,230 shares of the insurance provider’s stock valued at $136,999,000 after buying an additional 634,833 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of First American Financial by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 1,412,295 shares of the insurance provider’s stock valued at $91,544,000 after buying an additional 4,913 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of First American Financial by 418.7% in the first quarter. Citigroup Inc. now owns 1,039,695 shares of the insurance provider’s stock valued at $67,394,000 after buying an additional 839,247 shares in the last quarter. 87.23% of the stock is owned by institutional investors.

First American Financial Stock Performance

FAF opened at $52.38 on Thursday. First American Financial Co. has a fifty-two week low of $48.81 and a fifty-two week high of $81.54. The company has a market capitalization of $5.46 billion, a P/E ratio of 6.37 and a beta of 1.22. The stock has a fifty day moving average of $55.68 and a 200-day moving average of $59.11.

First American Financial (NYSE:FAFGet Rating) last posted its earnings results on Thursday, July 28th. The insurance provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.61. First American Financial had a return on equity of 15.41% and a net margin of 10.11%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The company’s revenue was down 9.0% on a year-over-year basis. On average, equities research analysts predict that First American Financial Co. will post 6.17 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, September 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from First American Financial’s previous quarterly dividend of $0.51. First American Financial’s dividend payout ratio (DPR) is currently 24.82%.

Analysts Set New Price Targets

FAF has been the subject of several analyst reports. Truist Financial decreased their target price on shares of First American Financial from $86.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Barclays decreased their target price on shares of First American Financial from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. Finally, BTIG Research cut their price target on First American Financial from $81.00 to $79.00 and set a “buy” rating for the company in a report on Friday, July 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and a consensus target price of $64.68.

First American Financial Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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