Qsemble Capital Management LP Sells 6,532 Shares of First American Financial Co. (NYSE:FAF)

Qsemble Capital Management LP lowered its position in First American Financial Co. (NYSE:FAF) by 32.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,701 shares of the insurance provider’s stock after selling 6,532 shares during the period. Qsemble Capital Management LP’s holdings in First American Financial were worth $739,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mather Group LLC. grew its stake 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 purchasing an additional 334 shares during the period. Principal Securities Inc. purchased a new position in shares of First American Financial in the fourth quarter worth approximately $45,000. GAMMA Investing LLC boosted its holdings in shares of First American Financial by 56.9% in 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. Abich Financial Wealth Management LLC grew its position 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 valued at $49,000 after buying an additional 288 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in First American Financial during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Stock Up 2.0 %

NYSE:FAF opened at $66.26 on Friday. The business’s 50-day simple moving average is $60.43 and its two-hundred day simple moving average is $57.50. First American Financial Co. has a 52 week low of $49.55 and a 52 week high of $66.59. The stock has a market cap of $6.82 billion, a PE ratio of 31.70 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its earnings results 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. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company earned $1.35 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts anticipate that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be given a dividend of $0.54 per share. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.26%. First American Financial’s dividend payout ratio is currently 101.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FAF shares. Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Barclays cut their price target on First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Truist Financial raised 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. Finally, Stephens reiterated an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.75.

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.