LPL Financial LLC Purchases 1,200 Shares of First American Financial Co. (NYSE:FAF)

LPL Financial LLC increased its position in shares of First American Financial Co. (NYSE:FAF) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,428 shares of the insurance provider’s stock after purchasing an additional 1,200 shares during the quarter. LPL Financial LLC’s holdings in First American Financial were worth $1,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in First American Financial by 22.3% during the first quarter. FMR LLC now owns 8,610,627 shares of the insurance provider’s stock worth $479,268,000 after acquiring an additional 1,567,428 shares in the last quarter. Boston Partners acquired a new position in shares of First American Financial in the first quarter valued at approximately $72,249,000. Charles Schwab Investment Management Inc. increased its stake in shares of 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 period. T. Rowe Price Investment Management Inc. acquired a new position in shares of First American Financial in the fourth quarter valued at approximately $57,776,000. Finally, Norges Bank acquired a new position in shares of First American Financial in the fourth quarter valued at approximately $53,163,000. Institutional investors own 85.53% of the company’s stock.

First American Financial Stock Performance

First American Financial stock opened at $53.23 on Tuesday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 23.45 and a beta of 1.25. First American Financial Co. has a 52-week low of $49.55 and a 52-week high of $64.66. The stock’s 50 day moving average price is $55.27 and its two-hundred day moving average price is $57.29.

First American Financial (NYSE:FAF) last issued its 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. First American Financial had a return on equity of 9.82% and a net margin of 3.78%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the business earned $1.62 EPS. First American Financial’s quarterly revenue was down 18.8% compared to the same quarter last year. On average, equities research analysts forecast that First American Financial Co. will post 4.23 EPS for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors 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 dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, December 7th. First American Financial’s dividend payout ratio is currently 93.39%.

Analyst Ratings Changes

Several research analysts have recently issued reports on FAF shares. BTIG Research reaffirmed a “neutral” rating on shares of First American Financial in a research note on Tuesday, July 18th. Stephens reiterated an “overweight” rating and issued a $72.00 target price on shares of First American Financial in a report on Wednesday, October 11th. Truist Financial upped their target price on First American Financial from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, StockNews.com cut First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and an average price target of $68.25.

First American Financial Company 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.