Barclays PLC boosted its position in First American Financial Co. (NYSE:FAF – Free Report) by 52.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,212 shares of the insurance provider’s stock after buying an additional 21,309 shares during the quarter. Barclays PLC’s holdings in First American Financial were worth $3,546,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of First American Financial by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,031,143 shares of the insurance provider’s stock worth $779,858,000 after purchasing an additional 245,974 shares during the last quarter. BlackRock Inc. increased its position in shares of First American Financial by 3.4% during the 1st quarter. BlackRock Inc. now owns 9,889,562 shares of the insurance provider’s stock worth $550,453,000 after purchasing an additional 329,543 shares during the last quarter. FMR LLC increased its position in shares of First American Financial by 22.3% during the 1st quarter. FMR LLC now owns 8,610,627 shares of the insurance provider’s stock worth $479,268,000 after purchasing an additional 1,567,428 shares during the last quarter. State Street Corp increased its position in shares of First American Financial by 2.9% during the 1st quarter. State Street Corp now owns 3,193,170 shares of the insurance provider’s stock worth $206,981,000 after purchasing an additional 90,276 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of First American Financial by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,802,635 shares of the insurance provider’s stock worth $155,989,000 after purchasing an additional 62,625 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the company. StockNews.com lowered First American Financial from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Truist Financial increased their price target on First American Financial from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, July 28th. BTIG Research restated a “neutral” rating on shares of First American Financial in a research note on Tuesday, July 18th. Finally, Stephens restated an “overweight” rating and issued a $72.00 price target on shares of First American Financial in a research note on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and an average target price of $68.25.
First American Financial Price Performance
FAF stock opened at $53.62 on Monday. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 23.62 and a beta of 1.25. The business’s fifty day moving average price is $55.47 and its two-hundred day moving average price is $57.30. First American Financial Co. has a fifty-two week low of $49.55 and a fifty-two week high of $64.66.
First American Financial (NYSE:FAF – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.13. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.60 billion. First American Financial had a return on equity of 9.82% and a net margin of 3.78%. The company’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 EPS. Research analysts expect that First American Financial Co. will post 4.23 EPS for the current year.
First American Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, December 7th. First American Financial’s dividend payout ratio (DPR) is currently 93.39%.
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.
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