Elo Mutual Pension Insurance Co Takes $694,000 Position in First American Financial Corporation $FAF

Elo Mutual Pension Insurance Co purchased a new position in shares of First American Financial Corporation (NYSE:FAF) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,802 shares of the insurance provider’s stock, valued at approximately $694,000.

Several other large investors have also recently added to or reduced their stakes in FAF. SJS Investment Consulting Inc. boosted its holdings in First American Financial by 2,887.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of First American Financial during the 2nd quarter worth approximately $35,000. Atlantic Union Bankshares Corp purchased a new position in shares of First American Financial during the 2nd quarter worth approximately $36,000. First Horizon Corp acquired a new stake in shares of First American Financial in the 3rd quarter valued at approximately $37,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of First American Financial in the 3rd quarter valued at approximately $41,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FAF. Barclays upped their price objective on First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Truist Financial raised their target price on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Stephens raised shares of First American Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $81.00 in a research note on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.50.

Insider Buying and Selling

In other First American Financial news, Director Parker S. Kennedy acquired 44,841 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were purchased at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the purchase, the director owned 251,552 shares in the company, valued at approximately $17,067,803.20. The trade was a 21.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

First American Financial Price Performance

NYSE FAF opened at $67.71 on Friday. The business has a 50 day moving average price of $64.62 and a 200 day moving average price of $64.10. The company has a market capitalization of $6.90 billion, a P/E ratio of 11.27, a PEG ratio of 0.72 and a beta of 1.25. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $71.47.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.50. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.80 billion. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.During the same period in the previous year, the business earned $1.35 earnings per share. First American Financial’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, research analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be given a $0.55 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.20 annualized dividend and a dividend yield of 3.2%. First American Financial’s payout ratio is currently 36.61%.

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.