EP Wealth Advisors LLC Has $1.97 Million Holdings in First American Financial Co. (NYSE:FAF)

EP Wealth Advisors LLC cut its position in shares of First American Financial Co. (NYSE:FAF) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,506 shares of the insurance provider’s stock after selling 288 shares during the period. EP Wealth Advisors LLC’s holdings in First American Financial were worth $1,970,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FAF. Verition Fund Management LLC raised its position in First American Financial by 21.3% during the fourth quarter. Verition Fund Management LLC now owns 196,081 shares of the insurance provider’s stock valued at $12,635,000 after acquiring an additional 34,444 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of First American Financial by 7.3% during the 1st quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock valued at $11,434,000 after purchasing an additional 12,720 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of First American Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after purchasing an additional 431,089 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in First American Financial by 9.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock worth $81,836,000 after purchasing an additional 111,197 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in First American Financial during the second quarter worth $1,191,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Stock Down 0.2 %

Shares of FAF stock opened at $65.90 on Wednesday. First American Financial Co. has a 12 month low of $49.55 and a 12 month high of $67.88. The firm has a market cap of $6.84 billion, a PE ratio of 31.53 and a beta of 1.29. The stock has a 50 day moving average of $62.82 and a 200-day moving average of $58.23.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the firm earned $1.35 EPS. The business’s revenue was down 2.1% on a year-over-year basis. As a group, equities analysts predict that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.28%. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, September 20th. First American Financial’s payout ratio is currently 103.35%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial upped their target price on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays dropped their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.75.

First American Financial Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.