Cubist Systematic Strategies LLC boosted its position in shares of First American Financial Co. (NYSE:FAF) by 12.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 128,497 shares of the insurance provider’s stock after buying an additional 13,853 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in First American Financial were worth $7,279,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAF. Norges Bank bought a new stake in First American Financial during the fourth quarter worth $53,264,000. Janus Henderson Group PLC raised its position in shares of First American Financial by 63.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,466,380 shares of the insurance provider’s stock valued at $75,709,000 after purchasing an additional 571,575 shares during the period. SummerHaven Investment Management LLC bought a new position in shares of First American Financial in the fourth quarter valued at about $449,000. Panagora Asset Management Inc. raised its position in shares of First American Financial by 486.3% in the first quarter. Panagora Asset Management Inc. now owns 357,180 shares of the insurance provider’s stock valued at $20,234,000 after purchasing an additional 296,257 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of First American Financial by 54.1% in the first quarter. AQR Capital Management LLC now owns 750,018 shares of the insurance provider’s stock valued at $42,489,000 after purchasing an additional 263,433 shares during the period. 86.00% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of First American Financial in a research report on Monday, May 3rd. They issued an “outperform” rating and a $78.00 price objective on the stock. Barclays increased their price objective on shares of First American Financial from $73.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. Truist Securities upped their price target on shares of First American Financial from $66.00 to $72.00 in a research note on Thursday, April 15th. Truist Financial upped their price target on shares of First American Financial from $66.00 to $72.00 in a research note on Thursday, April 15th. Finally, Zacks Investment Research downgraded shares of First American Financial from a “buy” rating to a “hold” rating and set a $66.00 price target on the stock. in a research note on Tuesday, June 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. First American Financial currently has an average rating of “Buy” and a consensus target price of $70.86.
First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, April 21st. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.30. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.75 billion. First American Financial had a net margin of 11.26% and a return on equity of 14.30%. The business’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share. On average, analysts expect that First American Financial Co. will post 6.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 8th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, June 7th. This represents a $1.84 dividend on an annualized basis and a yield of 2.90%. First American Financial’s payout ratio is 33.76%.
First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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