Empowered Funds LLC Takes $252,000 Position in First American Financial Co. (NYSE:FAF)

Empowered Funds LLC acquired a new position in shares of First American Financial Co. (NYSE:FAF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,820 shares of the insurance provider’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FAF. Mather Group LLC. grew its position in First American Financial by 99.1% during the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 334 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 257 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of First American Financial by 132.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 356 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in First American Financial in the 2nd quarter worth $47,000. Finally, Quarry LP lifted its stake in First American Financial by 340.8% in the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 668 shares during the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Price Performance

NYSE FAF opened at $69.35 on Wednesday. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $70.92. The stock has a market capitalization of $7.14 billion, a PE ratio of 77.32 and a beta of 1.29. The business’s 50-day moving average is $64.97 and its 200 day moving average is $60.47.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share 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 last year, the company earned $1.22 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that First American Financial Co. will post 4.04 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Monday, December 9th. First American Financial’s payout ratio is currently 242.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Stephens raised their price target on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their price objective on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Truist Financial increased their price objective on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note 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 has a consensus rating of “Moderate Buy” and an average 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.