Bar Harbor Wealth Management Increases Stake in First American Financial Co. (NYSE:FAF)

Bar Harbor Wealth Management increased its position in First American Financial Co. (NYSE:FAF) by 43.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,627 shares of the insurance provider’s stock after acquiring an additional 29,324 shares during the period. Bar Harbor Wealth Management’s holdings in First American Financial were worth $6,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in First American Financial by 23.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 20,783 shares of the insurance provider’s stock valued at $1,121,000 after acquiring an additional 3,914 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of First American Financial in the 2nd quarter valued at about $47,000. Headlands Technologies LLC boosted its stake in shares of First American Financial by 2,713.6% in the second quarter. Headlands Technologies LLC now owns 2,476 shares of the insurance provider’s stock worth $134,000 after buying an additional 2,388 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in First American Financial by 112.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,810 shares of the insurance provider’s stock worth $583,000 after acquiring an additional 5,711 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in First American Financial by 5.6% during the second quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock valued at $8,067,000 after acquiring an additional 7,885 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

FAF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Barclays lifted their price objective 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. Truist Financial raised their target price on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Stephens upped their price target on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

First American Financial Price Performance

FAF stock traded up $0.59 during trading on Monday, hitting $58.29. The stock had a trading volume of 353,920 shares, compared to its average volume of 496,209. The company’s 50-day moving average price is $64.79 and its two-hundred day moving average price is $62.85. First American Financial Co. has a twelve month low of $51.60 and a twelve month high of $70.92. The stock has a market capitalization of $6.00 billion, a P/E ratio of 65.50 and a beta of 1.33.

First American Financial (NYSE:FAF) last issued its quarterly earnings results 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 return on equity of 7.95% and a net margin of 1.58%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The business’s 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 4.07 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is 242.70%.

First American Financial 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.