Brookstone Capital Management Increases Stock Holdings in First American Financial Co. (NYSE:FAF)

Brookstone Capital Management lifted its position in First American Financial Co. (NYSE:FAFGet Rating) by 34.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,630 shares of the insurance provider’s stock after purchasing an additional 3,456 shares during the quarter. Brookstone Capital Management’s holdings in First American Financial were worth $738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FAF. Charles Schwab Investment Management Inc. lifted its position in First American Financial by 135.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,184,147 shares of the insurance provider’s stock valued at $141,577,000 after buying an additional 1,257,338 shares during the last quarter. Citigroup Inc. lifted its position in 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 during the last quarter. HG Vora Capital Management LLC lifted its position in First American Financial by 8.4% in the fourth quarter. HG Vora Capital Management LLC now owns 10,300,000 shares of the insurance provider’s stock valued at $805,769,000 after buying an additional 800,000 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in 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 during the last quarter. Finally, BlackRock Inc. lifted its position in First American Financial by 3.3% in the first quarter. BlackRock Inc. now owns 9,629,986 shares of the insurance provider’s stock valued at $624,215,000 after buying an additional 303,214 shares during the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.

First American Financial Stock Performance

FAF stock opened at $47.74 on Friday. The company’s 50 day moving average price is $55.01 and its 200 day moving average price is $57.97. First American Financial Co. has a fifty-two week low of $47.20 and a fifty-two week high of $81.54. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 5.81 and a beta of 1.22.

First American Financial (NYSE:FAFGet Rating) last released 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 net margin of 10.11% and a return on equity of 15.41%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities analysts forecast that First American Financial Co. will post 6.38 EPS for the current fiscal year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.36%. This is a positive change from First American Financial’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, September 7th. First American Financial’s dividend payout ratio is presently 25.30%.

Wall Street Analyst Weigh In

A number of research analysts have commented on FAF shares. Barclays decreased their target price 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. Truist Financial reduced their price target on shares of First American Financial from $86.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Finally, BTIG Research reduced their price target on shares of First American Financial from $81.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday, July 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.68.

First American Financial 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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