QRG Capital Management Inc. Purchases 2,226 Shares of First American Financial Co. (NYSE:FAF)

QRG Capital Management Inc. boosted its position in shares of First American Financial Co. (NYSE:FAF) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,864 shares of the insurance provider’s stock after purchasing an additional 2,226 shares during the period. QRG Capital Management Inc.’s holdings in First American Financial were worth $2,235,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC grew its holdings in First American Financial by 7.3% during the 1st quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock valued at $11,434,000 after purchasing an additional 12,720 shares during the last quarter. Vanguard Group Inc. grew its holdings in First American Financial by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after purchasing an additional 431,089 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in First American Financial by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock valued at $76,977,000 after buying an additional 86,330 shares during the period. SG Americas Securities LLC purchased a new stake in First American Financial in the 2nd quarter valued at about $1,191,000. Finally, Seven Eight Capital LP purchased a new stake in First American Financial in the 1st quarter valued at about $2,634,000. 89.05% of the stock is currently owned by institutional investors.

First American Financial Stock Performance

Shares of FAF opened at $62.49 on Friday. The company has a 50 day moving average price of $64.81 and a 200-day moving average price of $59.51. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $67.88. The stock has a market capitalization of $6.44 billion, a PE ratio of 70.21 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts forecast that First American Financial Co. will post 3.99 EPS for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.46%. First American Financial’s payout ratio is 242.70%.

Analysts Set New Price Targets

Several research firms have issued reports on FAF. Stephens boosted their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays boosted 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, October 25th. Keefe, Bruyette & Woods boosted their price objective on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Truist Financial boosted 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, October 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price 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.