657,947 Shares in First American Financial Co. (NYSE:FAF) Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC purchased a new stake in First American Financial Co. (NYSE:FAF) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 657,947 shares of the insurance provider’s stock, valued at approximately $43,431,000. ArrowMark Colorado Holdings LLC owned 0.64% of First American Financial at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of First American Financial by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 244,302 shares of the insurance provider’s stock worth $14,915,000 after acquiring an additional 1,302 shares in the last quarter. Tidal Investments LLC bought a new position in shares of First American Financial in the first quarter valued at about $812,000. Comerica Bank lifted its position in First American Financial by 3.9% during the 1st quarter. Comerica Bank now owns 51,634 shares of the insurance provider’s stock worth $3,152,000 after buying an additional 1,938 shares in the last quarter. Cetera Advisors LLC bought a new stake in First American Financial during the 1st quarter worth about $457,000. Finally, GAMMA Investing LLC increased its position 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 acquiring an additional 257 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Price Performance

First American Financial stock opened at $70.15 on Monday. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 78.82 and a beta of 1.29. The company’s 50 day simple moving average is $65.28 and its 200 day simple moving average is $60.86. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.19. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. As a group, analysts predict that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.08%. First American Financial’s payout ratio is 242.70%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FAF. Barclays increased 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 note on Friday, October 25th. Truist Financial boosted their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Stephens raised their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

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.