Vaughan Nelson Investment Management L.P. Acquires 66,290 Shares of First American Financial Co. (NYSE:FAF)

Vaughan Nelson Investment Management L.P. raised its holdings in First American Financial Co. (NYSE:FAF) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,493,111 shares of the insurance provider’s stock after buying an additional 66,290 shares during the period. Vaughan Nelson Investment Management L.P. owned about 1.45% of First American Financial worth $98,560,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. increased its holdings in shares of First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 334 shares during the last quarter. GAMMA Investing LLC grew its stake in First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after buying an additional 257 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 356 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of First American Financial during the second quarter worth approximately $47,000. Finally, Quarry LP grew its position in shares of First American Financial by 340.8% in the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 668 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FAF. Stephens boosted their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Truist Financial increased their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted 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 increased their price target on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

First American Financial Price Performance

Shares of NYSE:FAF opened at $64.98 on Friday. First American Financial Co. has a one year low of $51.60 and a one year high of $67.88. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 73.01 and a beta of 1.29. The firm has a 50 day simple moving average of $64.79 and a 200 day simple moving average of $59.90.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating 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 last year, the firm posted $1.22 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts expect that First American Financial Co. will post 3.99 EPS for the current year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is currently 242.70%.

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.