Ensign Peak Advisors Inc Raises Position in First American Financial Co. (NYSE:FAF)

Ensign Peak Advisors Inc boosted its position in First American Financial Co. (NYSE:FAF) by 27.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 89,717 shares of the insurance provider’s stock after acquiring an additional 19,365 shares during the quarter. Ensign Peak Advisors Inc’s holdings in First American Financial were worth $4,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Custom Index Systems LLC raised its stake in shares of First American Financial by 2.3% in the 2nd quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock valued at $443,000 after purchasing an additional 182 shares in the last quarter. Pacer Advisors Inc. lifted its position in First American Financial by 1.2% in the 2nd quarter. Pacer Advisors Inc. now owns 15,560 shares of the insurance provider’s stock valued at $839,000 after purchasing an additional 187 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of First American Financial by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock worth $630,000 after buying an additional 193 shares during the period. Blossom Wealth Management increased its position in First American Financial by 2.9% in the 2nd quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock valued at $374,000 after acquiring an additional 195 shares during the period. Finally, Bessemer Group Inc. raised its stake in First American Financial by 4.9% during the 1st quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of research analyst reports. Barclays lowered their price target on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Stephens reissued an “overweight” rating and set a $66.00 target price on shares of First American Financial in a report on Thursday, July 25th. Truist Financial increased their price target on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.75.

First American Financial Stock Down 0.6 %

NYSE:FAF opened at $64.32 on Thursday. The stock has a fifty day simple moving average of $62.33 and a 200 day simple moving average of $58.02. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 30.78 and a beta of 1.29. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $67.88.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the company posted $1.35 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts predict that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.54 per share. This is an increase from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, September 20th. First American Financial’s payout ratio is 103.35%.

First American Financial 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.