First American Financial Co. (NYSE:FAF) Shares Acquired by Algert Global LLC

Algert Global LLC lifted its stake in shares of First American Financial Co. (NYSE:FAF) by 101.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 113,493 shares of the insurance provider’s stock after purchasing an additional 57,180 shares during the quarter. Algert Global LLC owned about 0.11% of First American Financial worth $7,492,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FAF. Dimensional Fund Advisors LP grew its stake in First American Financial by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after acquiring an additional 515,710 shares during the last quarter. Boston Partners grew its stake in First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock valued at $248,237,000 after acquiring an additional 479,618 shares during the last quarter. Victory Capital Management Inc. grew its stake in First American Financial by 19.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock valued at $164,746,000 after acquiring an additional 405,146 shares during the last quarter. Reinhart Partners LLC. grew its stake in First American Financial by 65.8% in the 2nd quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock valued at $50,916,000 after acquiring an additional 374,662 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in First American Financial by 245.1% in the 2nd quarter. AQR Capital Management LLC now owns 419,995 shares of the insurance provider’s stock valued at $22,659,000 after purchasing an additional 298,302 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FAF has been the topic of a number of recent research reports. 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 report on Wednesday, September 4th. Truist Financial upped their target price on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays upped their target price on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Stephens upped their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a 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 company’s stock. Based on data from MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

First American Financial Stock Performance

FAF opened at $67.64 on Friday. The company’s 50 day simple moving average is $64.92 and its 200 day simple moving average is $60.29. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $67.88. The stock has a market capitalization of $6.97 billion, a PE ratio of 76.00 and a beta of 1.29.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company earned $1.22 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts expect that First American Financial Co. will post 4.04 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.54 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.19%. First American Financial’s dividend payout ratio is presently 242.70%.

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.