Fisher Asset Management LLC Sells 30,930 Shares of First American Financial Corporation $FAF

Fisher Asset Management LLC decreased its position in shares of First American Financial Corporation (NYSE:FAF) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 458,901 shares of the insurance provider’s stock after selling 30,930 shares during the quarter. Fisher Asset Management LLC owned 0.45% of First American Financial worth $28,172,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC bought a new stake in shares of First American Financial during the 2nd quarter worth approximately $35,000. Atlantic Union Bankshares Corp acquired a new position in First American Financial during the second quarter valued at approximately $36,000. Ameritas Advisory Services LLC bought a new stake in First American Financial during the second quarter worth $48,000. Ransom Advisory Ltd acquired a new stake in shares of First American Financial in the 1st quarter valued at $66,000. Finally, Jones Financial Companies Lllp increased its stake in shares of First American Financial by 121.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 813 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

First American Financial Price Performance

FAF opened at $65.10 on Wednesday. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.68. The company’s 50 day moving average price is $62.84 and its two-hundred day moving average price is $61.78. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 14.00 and a beta of 1.27.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.28. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $1.34 earnings per share. The company’s revenue for the quarter was up 40.7% on a year-over-year basis. As a group, equities research analysts predict that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 annualized dividend and a yield of 3.4%. First American Financial’s payout ratio is presently 47.31%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FAF shares. Barclays upped their price objective on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. Weiss Ratings upgraded shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Truist Financial upped their price objective on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Finally, Stephens started coverage on shares of First American Financial in a research note on Friday, November 14th. They set an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.00.

About First American Financial

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.