First American Financial Corporation $FAF Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in First American Financial Corporation (NYSE:FAF) by 10.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,739 shares of the insurance provider’s stock after acquiring an additional 20,188 shares during the period. Allianz Asset Management GmbH owned about 0.21% of First American Financial worth $13,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Boston Partners raised its position in shares of First American Financial by 20.0% during the 2nd quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after purchasing an additional 940,687 shares during the period. Reinhart Partners LLC. grew its stake in First American Financial by 31.3% during the 3rd quarter. Reinhart Partners LLC. now owns 1,598,007 shares of the insurance provider’s stock worth $102,657,000 after buying an additional 380,744 shares during the last quarter. Channing Capital Management LLC increased its position in First American Financial by 875.1% in the second quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock worth $81,250,000 after buying an additional 1,187,787 shares during the period. Norges Bank bought a new stake in First American Financial in the second quarter valued at $77,143,000. Finally, Corient Private Wealth LLC boosted its holdings in shares of First American Financial by 5.8% during the second quarter. Corient Private Wealth LLC now owns 815,810 shares of the insurance provider’s stock valued at $50,063,000 after acquiring an additional 44,749 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of analyst reports. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Keefe, Bruyette & Woods lifted their price target on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Stephens assumed coverage on First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Finally, Barclays decreased their price objective on First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and an average target price of $75.75.

First American Financial Price Performance

First American Financial stock opened at $67.42 on Friday. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $68.75. The stock has a market capitalization of $6.87 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 0.72 and a beta of 1.27. The firm has a 50 day simple moving average of $62.96 and a 200-day simple moving average of $63.36.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, March 9th. First American Financial’s payout ratio 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.