Deprince Race & Zollo Inc. Has $52.79 Million Stake in First American Financial Co. (NYSE:FAF)

Deprince Race & Zollo Inc. lifted its position in First American Financial Co. (NYSE:FAF) by 22.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 978,531 shares of the insurance provider’s stock after buying an additional 176,351 shares during the quarter. First American Financial comprises 1.2% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 19th largest holding. Deprince Race & Zollo Inc.’s holdings in First American Financial were worth $52,792,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. increased 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 worth $36,000 after purchasing an additional 334 shares during the last quarter. GAMMA Investing LLC lifted its position 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 acquiring an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings 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 acquiring an additional 288 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of First American Financial in the second quarter valued at about $47,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of First American Financial in the first quarter worth about $54,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Down 0.6 %

Shares of First American Financial stock opened at $64.32 on Thursday. First American Financial Co. has a 12-month low of $49.55 and a 12-month high of $67.88. The stock has a market capitalization of $6.62 billion, a P/E ratio of 30.78 and a beta of 1.29. The company has a 50-day simple moving average of $62.33 and a 200 day simple moving average of $58.02.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. The business 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%. First American Financial’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 EPS. On average, equities analysts anticipate that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.36%. The ex-dividend date is Friday, September 20th. This is a boost from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio (DPR) is presently 103.35%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FAF. Truist Financial increased their target price on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods upped their target price on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays decreased their price objective on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Finally, Stephens reiterated an “overweight” rating and set a $66.00 price target on shares of First American Financial in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.