Tower Research Capital LLC TRC Has $126,000 Stake in First American Financial Co. (NYSE:FAF)

Tower Research Capital LLC TRC cut its stake in shares of First American Financial Co. (NYSE:FAF) by 35.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,262 shares of the insurance provider’s stock after selling 1,252 shares during the quarter. Tower Research Capital LLC TRC’s holdings in First American Financial were worth $126,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FAF. Point72 Hong Kong Ltd bought a new position in shares of First American Financial during the 2nd quarter worth about $36,000. Ridgewood Investments LLC bought a new position in First American Financial in the 1st quarter worth approximately $38,000. Ellevest Inc. grew its position in shares of First American Financial by 76.1% during the 1st quarter. Ellevest Inc. now owns 745 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 322 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in First American Financial during the first quarter valued at approximately $46,000. Finally, Industrial Alliance Investment Management Inc. grew its holdings in shares of First American Financial by 161.3% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 571 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Stock Performance

Shares of FAF opened at $61.69 on Friday. The stock has a market capitalization of $6.36 billion, a PE ratio of 26.71 and a beta of 1.26. The company’s 50-day simple moving average is $59.74 and its 200-day simple moving average is $57.40. First American Financial Co. has a 1 year low of $43.54 and a 1 year high of $64.66.

First American Financial (NYSE:FAF) last posted its earnings results on Thursday, July 27th. The insurance provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.39. First American Financial had a net margin of 3.64% and a return on equity of 10.72%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.50 billion. On average, sell-side analysts predict that First American Financial Co. will post 4.33 earnings per share for the current year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a dividend of $0.53 per share. This is a positive change from First American Financial’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 7th. This represents a $2.12 annualized dividend and a dividend yield of 3.44%. First American Financial’s payout ratio is presently 91.77%.

Analysts Set New Price Targets

FAF has been the topic of several analyst reports. Truist Financial upped their target price on shares of First American Financial from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. StockNews.com downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Stephens boosted their price target on shares of First American Financial from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. SpectralCast restated a “maintains” rating on shares of First American Financial in a report on Tuesday, June 27th. Finally, BTIG Research restated a “neutral” rating on shares of First American Financial in a research report on Tuesday, July 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.25.

About First American Financial

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.