Tributary Capital Management LLC Cuts Position in First American Financial Co. (NYSE:FAF)

Tributary Capital Management LLC reduced its holdings in shares of First American Financial Co. (NYSE:FAF) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,870 shares of the insurance provider’s stock after selling 330 shares during the quarter. Tributary Capital Management LLC’s holdings in First American Financial were worth $453,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mather Group LLC. boosted its position in First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 334 shares during the period. GAMMA Investing LLC boosted its position in shares of First American Financial by 56.9% in the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after buying an additional 257 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of First American Financial in the second quarter valued at about $47,000. Quarry LP raised its holdings in shares of First American Financial by 340.8% during the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider’s stock valued at $47,000 after buying an additional 668 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its position in First American Financial by 56.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

FAF opened at $64.00 on Tuesday. The company has a market capitalization of $6.58 billion, a P/E ratio of 34.23 and a beta of 1.29. The company has a 50-day moving average of $64.71 and a 200-day moving average of $59.09. First American Financial Co. has a 1-year low of $50.32 and a 1-year high of $67.88.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company earned $1.22 earnings per share. First American Financial’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side 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. Investors of record on Friday, September 20th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 20th. This is a boost from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 3.38%. First American Financial’s dividend payout ratio (DPR) is 115.51%.

Analyst Ratings Changes

FAF has been the subject of several recent research reports. Truist Financial increased their price objective on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Barclays upped their price objective on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Stephens lifted their target price on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.50.

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.