Pallas Capital Advisors LLC Acquires 1,387 Shares of First American Financial Co. (NYSE:FAF)

Pallas Capital Advisors LLC boosted its holdings in First American Financial Co. (NYSE:FAF) by 30.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,877 shares of the insurance provider’s stock after purchasing an additional 1,387 shares during the quarter. Pallas Capital Advisors LLC’s holdings in First American Financial were worth $376,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mather Group LLC. lifted its position in shares of First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 334 shares during the period. GAMMA Investing LLC increased its stake in First American Financial by 56.9% in the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 257 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of First American Financial during the 2nd quarter worth about $47,000. Quarry LP grew its stake in shares of First American Financial by 340.8% in 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 increased its position in First American Financial by 56.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock valued at $49,000 after buying an additional 288 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FAF has been the topic of several recent research reports. Barclays increased their price target on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Truist Financial boosted their price target on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Stephens upped their price objective on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Trading Down 0.8 %

NYSE FAF opened at $64.16 on Friday. The business has a fifty day simple moving average of $64.85 and a 200 day simple moving average of $59.23. First American Financial Co. has a 12 month low of $50.54 and a 12 month high of $67.88. The firm has a market capitalization of $6.60 billion, a P/E ratio of 72.43 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts predict that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio (DPR) is 242.70%.

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.