First American Financial Co. (NYSE:FAF) Shares Acquired by Custom Index Systems LLC

Custom Index Systems LLC lifted its position in First American Financial Co. (NYSE:FAF) by 130.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,975 shares of the insurance provider’s stock after acquiring an additional 10,757 shares during the period. First American Financial accounts for approximately 0.7% of Custom Index Systems LLC’s investment portfolio, making the stock its 29th biggest holding. Custom Index Systems LLC’s holdings in First American Financial were worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC boosted its holdings in shares of First American Financial by 7.3% in the 1st quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock valued at $11,434,000 after acquiring an additional 12,720 shares during the last quarter. Vanguard Group Inc. boosted its holdings in First American Financial by 4.3% in the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after purchasing an additional 431,089 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in First American Financial by 9.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock worth $81,836,000 after purchasing an additional 111,197 shares during the period. SG Americas Securities LLC purchased a new position in shares of First American Financial during the 2nd quarter valued at about $1,191,000. Finally, Seven Eight Capital LP acquired a new position in shares of First American Financial in the 1st quarter valued at about $2,634,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FAF. Keefe, Bruyette & Woods lifted their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial lifted 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. Barclays raised 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. Finally, Stephens upped their price objective on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Stock Performance

First American Financial stock traded down $0.66 during trading on Friday, reaching $63.28. The company had a trading volume of 550,624 shares, compared to its average volume of 724,231. The firm’s 50-day simple moving average is $64.71 and its 200 day simple moving average is $59.07. The firm has a market capitalization of $6.51 billion, a PE ratio of 33.84 and a beta of 1.29. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $67.88.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. Analysts anticipate that First American Financial Co. will post 3.89 EPS for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio (DPR) is 115.51%.

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.