Paloma Partners Management Co Takes $380,000 Position in First American Financial Co. (NYSE:FAF)

Paloma Partners Management Co acquired a new stake in shares of First American Financial Co. (NYSE:FAF) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,221 shares of the insurance provider’s stock, valued at approximately $380,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in First American Financial by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after purchasing an additional 431,089 shares during the period. Boston Partners boosted its position in First American Financial by 13.4% during the 4th quarter. Boston Partners now owns 3,594,563 shares of the insurance provider’s stock worth $231,608,000 after purchasing an additional 425,243 shares during the period. Dimensional Fund Advisors LP boosted its position in First American Financial by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,059,361 shares of the insurance provider’s stock worth $197,148,000 after purchasing an additional 94,854 shares during the period. Charles Schwab Investment Management Inc. boosted its position in First American Financial by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,680,947 shares of the insurance provider’s stock worth $172,760,000 after purchasing an additional 9,491 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted 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. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FAF. Truist Financial upped their price target on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday. Barclays decreased their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Stephens reiterated an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First American Financial from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday. Two analysts have 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.25.

First American Financial Trading Up 0.2 %

FAF stock traded up $0.11 during trading on Monday, reaching $59.87. The stock had a trading volume of 1,126,772 shares, compared to its average volume of 648,415. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $65.54. The company has a market capitalization of $6.21 billion, a P/E ratio of 28.65 and a beta of 1.28. The firm has a fifty day moving average price of $54.92 and a 200 day moving average price of $56.87.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.35 EPS. Sell-side analysts predict that First American Financial Co. will post 3.88 EPS for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.53 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.54%. First American Financial’s dividend payout ratio (DPR) is presently 101.44%.

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.