Oak Thistle LLC Invests $239,000 in First American Financial Co. (NYSE:FAF)

Oak Thistle LLC purchased a new position in First American Financial Co. (NYSE:FAF) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,433 shares of the insurance provider’s stock, valued at approximately $239,000.

Other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. acquired a new position in First American Financial during the fourth quarter worth $26,000. Mather Group LLC. boosted its stake in First American Financial by 99.1% during the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after buying an additional 334 shares during the last quarter. Principal Securities Inc. acquired a new position in First American Financial during the fourth quarter worth $45,000. GAMMA Investing LLC boosted its stake in First American Financial by 56.9% during 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 last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in First American Financial by 56.5% during the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock worth $49,000 after buying an additional 288 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Stock Down 0.1 %

Shares of First American Financial stock opened at $65.01 on Wednesday. First American Financial Co. has a 52 week low of $49.55 and a 52 week high of $66.11. The business’s fifty day simple moving average is $59.75 and its 200-day simple moving average is $57.34. The firm has a market cap of $6.74 billion, a PE ratio of 31.11 and a beta of 1.29.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.14. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 EPS. As a group, equities analysts expect that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.32%. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s payout ratio is currently 101.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FAF shares. Truist Financial boosted their price objective on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stephens reissued an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Barclays decreased their price target on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.75.

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.