Thrivent Financial for Lutherans Acquires 36,485 Shares of First American Financial Corporation $FAF

Thrivent Financial for Lutherans lifted its holdings in shares of First American Financial Corporation (NYSE:FAF) by 129.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,774 shares of the insurance provider’s stock after purchasing an additional 36,485 shares during the quarter. Thrivent Financial for Lutherans owned 0.06% of First American Financial worth $3,976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FAF. Deutsche Bank AG raised its holdings in First American Financial by 6.2% during the 1st quarter. Deutsche Bank AG now owns 8,369 shares of the insurance provider’s stock worth $549,000 after buying an additional 490 shares during the period. HighTower Advisors LLC increased its position in shares of First American Financial by 3.5% during the first quarter. HighTower Advisors LLC now owns 8,638 shares of the insurance provider’s stock worth $567,000 after acquiring an additional 290 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of First American Financial by 0.5% during the first quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock worth $2,823,000 after acquiring an additional 229 shares during the period. Northern Trust Corp raised its holdings in shares of First American Financial by 3.2% during the first quarter. Northern Trust Corp now owns 1,063,232 shares of the insurance provider’s stock worth $69,780,000 after acquiring an additional 32,610 shares during the period. Finally, AlphaQuest LLC lifted its position in First American Financial by 366.7% in the 1st quarter. AlphaQuest LLC now owns 16,162 shares of the insurance provider’s stock valued at $1,061,000 after acquiring an additional 12,699 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Stephens assumed coverage on First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Barclays lifted their target price on First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Weiss Ratings upgraded First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Finally, Truist Financial raised 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 note on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.50.

First American Financial Stock Performance

Shares of NYSE FAF opened at $62.98 on Friday. The stock has a 50 day moving average price of $63.09 and a 200 day moving average price of $62.44. The stock has a market capitalization of $6.42 billion, a PE ratio of 13.54 and a beta of 1.27. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $68.64.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.28. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations 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 revenue was up 40.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 EPS. As a group, research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were paid a $0.55 dividend. The ex-dividend date was Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. First American Financial’s dividend payout ratio (DPR) is currently 47.31%.

About First American Financial

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.