Wealth Enhancement Advisory Services LLC Raises Stock Holdings in First American Financial Co. (NYSE:FAF)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of First American Financial Co. (NYSE:FAF) by 16.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,978 shares of the insurance provider’s stock after buying an additional 2,542 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in First American Financial were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Oppenheimer Asset Management Inc. raised its stake in shares of First American Financial by 112.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,810 shares of the insurance provider’s stock worth $583,000 after purchasing an additional 5,711 shares during the period. Envestnet Asset Management Inc. boosted its stake in First American Financial by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock valued at $8,067,000 after acquiring an additional 7,885 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after acquiring an additional 515,710 shares during the period. Edgestream Partners L.P. bought a new position in shares of First American Financial during the 2nd quarter valued at approximately $4,870,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of First American Financial by 11.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,437 shares of the insurance provider’s stock worth $347,000 after purchasing an additional 664 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

FAF has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price objective on First American Financial from $80.00 to $74.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Stephens lifted their price objective on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. 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 report on Friday, October 25th. Finally, Truist Financial increased their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

First American Financial Trading Up 2.0 %

FAF stock opened at $60.66 on Thursday. The firm has a 50 day moving average of $64.59 and a 200-day moving average of $62.91. The firm has a market capitalization of $6.25 billion, a P/E ratio of 68.16 and a beta of 1.33. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92.

First American Financial (NYSE:FAF) last announced its quarterly 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. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. Sell-side analysts predict that First American Financial Co. will post 4.07 EPS for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.54 dividend. The ex-dividend date was Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.56%. First American Financial’s dividend payout ratio is currently 242.70%.

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.