Aigen Investment Management LP Purchases Shares of 9,269 First American Financial Co. (NYSE:FAF)

Aigen Investment Management LP purchased a new stake in First American Financial Co. (NYSE:FAF) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 9,269 shares of the insurance provider’s stock, valued at approximately $612,000.

Other hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its stake in shares of First American Financial by 7.3% during the 1st quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock worth $11,434,000 after acquiring an additional 12,720 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 431,089 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of First American Financial by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock worth $76,977,000 after acquiring an additional 86,330 shares during the period. SG Americas Securities LLC bought a new position in shares of First American Financial during the 2nd quarter worth approximately $1,191,000. Finally, Seven Eight Capital LP bought a new position in shares of First American Financial during the 1st quarter worth approximately $2,634,000. 89.05% of the stock is currently owned by institutional investors.

First American Financial Price Performance

Shares of NYSE FAF opened at $64.17 on Thursday. The stock has a market capitalization of $6.61 billion, a PE ratio of 72.10 and a beta of 1.29. The business has a fifty day moving average price of $64.80 and a two-hundred day moving average price of $59.75. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $67.88.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. On average, equities analysts expect that First American Financial Co. will post 3.99 EPS for the current year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.54 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.37%. First American Financial’s payout ratio is 242.70%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Truist Financial lifted their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barclays lifted their target price on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Stephens lifted their price target on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.50.

First American Financial Company 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.