Envestnet Asset Management Inc. Buys 7,885 Shares of First American Financial Co. (NYSE:FAF)

Envestnet Asset Management Inc. lifted its stake in shares of First American Financial Co. (NYSE:FAF) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,530 shares of the insurance provider’s stock after acquiring an additional 7,885 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of First American Financial worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. raised its holdings in First American Financial by 112.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,810 shares of the insurance provider’s stock worth $583,000 after purchasing an additional 5,711 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in First American Financial by 11.9% in the second quarter. Meeder Asset Management Inc. now owns 23,837 shares of the insurance provider’s stock valued at $1,286,000 after buying an additional 2,527 shares during the period. Headlands Technologies LLC boosted its position in First American Financial by 2,713.6% during the second quarter. Headlands Technologies LLC now owns 2,476 shares of the insurance provider’s stock valued at $134,000 after acquiring an additional 2,388 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in First American Financial by 17.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 106,191 shares of the insurance provider’s stock worth $5,729,000 after acquiring an additional 15,888 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in First American Financial during the 2nd quarter worth about $47,000. 89.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on FAF shares. Keefe, Bruyette & Woods upped their target price on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial increased their price target on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stephens reiterated an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Finally, Barclays decreased their target price on First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

First American Financial Price Performance

NYSE:FAF opened at $65.67 on Friday. First American Financial Co. has a one year low of $49.55 and a one year high of $67.88. The company has a market cap of $6.76 billion, a PE ratio of 31.42 and a beta of 1.29. The firm has a 50-day moving average of $62.64 and a 200-day moving average of $58.13.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.14. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the business earned $1.35 EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts expect that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were paid a $0.54 dividend. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, September 20th. This represents a $2.16 annualized dividend and a yield of 3.29%. First American Financial’s dividend payout ratio (DPR) is 103.35%.

About First American Financial

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.