Caprock Group LLC Takes Position in First American Financial Corporation $FAF

Caprock Group LLC acquired a new stake in First American Financial Corporation (NYSE:FAF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,814 shares of the insurance provider’s stock, valued at approximately $1,242,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FAF. SJS Investment Consulting Inc. raised its position in shares of 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 buying an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in First American Financial during the second quarter valued at approximately $35,000. Atlantic Union Bankshares Corp acquired a new stake in shares of First American Financial in the 2nd quarter valued at $36,000. First Horizon Corp acquired a new position in shares of First American Financial during the 3rd quarter worth $37,000. Finally, Tripletail Wealth Management LLC bought a new stake in shares of First American Financial during the 3rd quarter worth $41,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Stock Performance

NYSE FAF opened at $67.16 on Friday. The stock has a 50 day moving average price of $63.05 and a 200-day moving average price of $63.57. First American Financial Corporation has a one year low of $53.09 and a one year high of $68.75. The company has a market capitalization of $6.84 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.72 and a beta of 1.27.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.93%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $1.35 earnings per share. First American Financial’s revenue was up 21.6% on a year-over-year basis. As a group, equities analysts predict that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, March 9th. First American Financial’s dividend payout ratio is presently 47.31%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a report on Friday. Truist Financial lifted their price target on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Finally, Barclays raised their price target on shares of First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.67.

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.