First American Financial Corporation $FAF Shares Sold by Ariel Investments LLC

Ariel Investments LLC lessened its stake in shares of First American Financial Corporation (NYSE:FAF) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,504,069 shares of the insurance provider’s stock after selling 186,809 shares during the quarter. First American Financial accounts for about 2.4% of Ariel Investments LLC’s holdings, making the stock its 13th biggest holding. Ariel Investments LLC owned approximately 3.44% of First American Financial worth $215,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in shares of First American Financial in the 2nd quarter worth approximately $35,000. Atlantic Union Bankshares Corp purchased a new stake in First American Financial in the second quarter valued at approximately $36,000. Ameritas Advisory Services LLC acquired a new position in First American Financial during the second quarter worth $48,000. EverSource Wealth Advisors LLC lifted its stake in First American Financial by 189.5% during the second quarter. EverSource Wealth Advisors LLC now owns 912 shares of the insurance provider’s stock worth $56,000 after purchasing an additional 597 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of First American Financial during the first quarter worth $66,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Price Performance

Shares of NYSE FAF opened at $62.30 on Wednesday. The business has a 50-day moving average of $62.76 and a two-hundred day moving average of $62.01. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 13.40 and a beta of 1.27. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $68.64.

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

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.55 dividend. The ex-dividend date is Monday, December 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. First American Financial’s dividend payout ratio is presently 47.31%.

Analyst Ratings Changes

Several research firms recently issued reports on FAF. Stephens initiated coverage on First American Financial in a report on Friday, November 14th. They issued an “equal weight” rating on the stock. Wall Street Zen lowered shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial increased their price target 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. Barclays raised their price objective on shares of First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Finally, Weiss Ratings raised shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.00.

First American Financial Company 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.