Amalgamated Bank Decreases Position in First American Financial Co. (NYSE:FAF)

Amalgamated Bank trimmed its holdings in First American Financial Co. (NYSE:FAF) by 24.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,909 shares of the insurance provider’s stock after selling 15,494 shares during the period. Amalgamated Bank’s holdings in First American Financial were worth $3,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. QRG Capital Management Inc. grew its stake in First American Financial by 7.0% in the 3rd quarter. QRG Capital Management Inc. now owns 33,864 shares of the insurance provider’s stock valued at $2,235,000 after buying an additional 2,226 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in First American Financial by 94.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 82,156 shares of the insurance provider’s stock valued at $5,423,000 after buying an additional 39,924 shares in the last quarter. Stephenson & Company Inc. purchased a new position in First American Financial in the 3rd quarter valued at approximately $227,000. Trajan Wealth LLC purchased a new position in First American Financial in the 3rd quarter valued at approximately $245,000. Finally, Pallas Capital Advisors LLC grew its stake in First American Financial by 30.9% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,877 shares of the insurance provider’s stock valued at $376,000 after buying an additional 1,387 shares in the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Stock Performance

NYSE FAF opened at $64.23 on Friday. First American Financial Co. has a 52-week low of $51.60 and a 52-week high of $67.88. The company has a market capitalization of $6.62 billion, a P/E ratio of 72.17 and a beta of 1.29. The company has a fifty day moving average of $64.82 and a 200-day moving average of $59.57.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm posted $1.22 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. As a group, analysts forecast that First American Financial Co. will post 3.99 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, December 9th. First American Financial’s dividend payout ratio is currently 242.70%.

Analysts Set New Price Targets

FAF has been the subject of a number of recent research reports. Stephens lifted their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Barclays boosted their price target on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and an average target price of $72.50.

First American Financial Company 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.