LPL Financial LLC increased its stake in First American Financial Co. (NYSE:FAF – Free Report) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,428 shares of the insurance provider’s stock after acquiring an additional 1,200 shares during the period. LPL Financial LLC’s holdings in First American Financial were worth $1,678,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FAF. Point72 Hong Kong Ltd purchased a new position in First American Financial in the second quarter valued at approximately $36,000. Ellevest Inc. raised its holdings in First American Financial by 76.1% in the first quarter. Ellevest Inc. now owns 745 shares of the insurance provider’s stock valued at $41,000 after buying an additional 322 shares during the period. Brown Brothers Harriman & Co. purchased a new position in First American Financial in the first quarter valued at approximately $46,000. Industrial Alliance Investment Management Inc. raised its holdings in First American Financial by 161.3% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock valued at $48,000 after buying an additional 571 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in First American Financial in the first quarter valued at approximately $55,000. 85.53% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently commented on FAF. StockNews.com lowered shares of First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Truist Financial lifted their price objective on shares of 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 reiterated a “neutral” rating on shares of First American Financial in a research note on Tuesday, July 18th. Finally, Stephens reiterated an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.
First American Financial Trading Down 0.7 %
Shares of NYSE:FAF opened at $53.23 on Tuesday. The company has a fifty day simple moving average of $55.27 and a 200 day simple moving average of $57.29. The firm has a market cap of $5.49 billion, a PE ratio of 23.45 and a beta of 1.25. First American Financial Co. has a 12-month low of $49.55 and a 12-month high of $64.66.
First American Financial (NYSE:FAF – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.60 billion. First American Financial had a net margin of 3.78% and a return on equity of 9.82%. The business’s revenue was down 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, equities research analysts forecast that First American Financial Co. will post 4.23 EPS for the current fiscal year.
First American Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Thursday, December 7th. First American Financial’s dividend payout ratio is presently 93.39%.
First American Financial Profile
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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