Commonwealth Equity Services LLC Raises Stock Holdings in First American Financial Co. (NYSE:FAF)

Commonwealth Equity Services LLC boosted its stake in shares of First American Financial Co. (NYSE:FAF) by 23.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 20,783 shares of the insurance provider’s stock after acquiring an additional 3,914 shares during the quarter. Commonwealth Equity Services LLC’s holdings in First American Financial were worth $1,121,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mather Group LLC. increased its stake in First American Financial by 99.1% during the 2nd 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 period. Principal Securities Inc. purchased a new position in First American Financial in the fourth quarter valued at $45,000. GAMMA Investing LLC increased its holdings in First American Financial by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 257 shares during the period. Abich Financial Wealth Management LLC raised its holdings in First American Financial by 56.5% in the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 288 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of First American Financial in the 1st quarter valued at approximately $54,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial boosted their target price on shares of 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 reiterated an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price 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 lowered their price target on shares of 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and an average target price of $66.75.

First American Financial Trading Up 0.8 %

Shares of First American Financial stock opened at $66.80 on Tuesday. The business’s fifty day moving average price is $60.98 and its 200 day moving average price is $57.62. The stock has a market capitalization of $6.93 billion, a P/E ratio of 31.96 and a beta of 1.29. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $67.13.

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

First American Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, September 20th. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio (DPR) is 103.35%.

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.