Handelsbanken Fonder AB Increases Stock Position in First American Financial Co. (NYSE:FAF)

Handelsbanken Fonder AB grew its holdings in shares of First American Financial Co. (NYSE:FAF) by 15.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,360 shares of the insurance provider’s stock after buying an additional 3,100 shares during the period. Handelsbanken Fonder AB’s holdings in First American Financial were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Custom Index Systems LLC grew its holdings in First American Financial by 2.3% during the second quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock worth $443,000 after acquiring an additional 182 shares during the period. Pacer Advisors Inc. boosted its position in shares of First American Financial by 1.2% during the 2nd quarter. Pacer Advisors Inc. now owns 15,560 shares of the insurance provider’s stock worth $839,000 after purchasing an additional 187 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of First American Financial by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock worth $630,000 after purchasing an additional 193 shares during the period. Blossom Wealth Management increased its holdings in shares of 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 purchasing an additional 195 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of First American Financial by 4.9% in the first quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after purchasing an additional 234 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on FAF. Truist Financial upped their target price on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays raised their price objective on First American Financial from $61.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday. 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, Keefe, Bruyette & Woods raised their price target 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.00.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $63.27 on Friday. First American Financial Co. has a one year low of $49.55 and a one year high of $67.88. The stock has a market cap of $6.56 billion, a PE ratio of 30.27 and a beta of 1.29. The business’s fifty day moving average price is $63.68 and its two-hundred day moving average price is $58.66.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 EPS. As a group, equities research analysts predict 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. Stockholders of record on Friday, September 20th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Friday, September 20th. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s payout ratio is currently 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.