Oppenheimer Asset Management Inc. Acquires 6,974 Shares of First American Financial Co. (NYSE:FAF)

Oppenheimer Asset Management Inc. grew its holdings in First American Financial Co. (NYSE:FAF) by 64.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,784 shares of the insurance provider’s stock after acquiring an additional 6,974 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in First American Financial were worth $1,174,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FAF. Victory Capital Management Inc. grew its holdings in shares of First American Financial by 19.4% during the third quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock worth $164,746,000 after buying an additional 405,146 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of First American Financial during the third quarter worth about $612,000. Venturi Wealth Management LLC grew its holdings in shares of First American Financial by 132.3% during the third quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock worth $41,000 after buying an additional 356 shares in the last quarter. Primoris Wealth Advisors LLC bought a new position in shares of First American Financial during the third quarter worth about $1,584,000. Finally, Capital Performance Advisors LLP bought a new position in shares of First American Financial during the third quarter worth about $87,000. 89.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays increased their price objective 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 increased their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased 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. Finally, Stephens increased their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $72.50.

First American Financial Stock Up 0.6 %

FAF opened at $65.39 on Tuesday. First American Financial Co. has a 12-month low of $51.60 and a 12-month high of $67.88. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 73.47 and a beta of 1.29. The business has a 50 day moving average of $64.79 and a 200-day moving average of $59.95.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the firm posted $1.22 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. As a group, analysts expect that First American Financial Co. will post 4.04 earnings per share 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. Stockholders of record on Monday, December 9th will be paid 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 dividend yield of 3.30%. First American Financial’s dividend payout ratio (DPR) is currently 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.