Russell Investments Group Ltd. Has $8.23 Million Stake in First American Financial Co. (NYSE:FAF)

Russell Investments Group Ltd. boosted its stake in First American Financial Co. (NYSE:FAF) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 122,836 shares of the insurance provider’s stock after buying an additional 4,944 shares during the period. Russell Investments Group Ltd.’s holdings in First American Financial were worth $8,234,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC boosted its stake in First American Financial by 0.9% in the second quarter. ProShare Advisors LLC now owns 17,713 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 151 shares in the last quarter. Arden Trust Co boosted its stake in First American Financial by 4.2% in the third quarter. Arden Trust Co now owns 3,887 shares of the insurance provider’s stock worth $261,000 after purchasing an additional 156 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in First American Financial by 1.4% in the third quarter. Commonwealth Equity Services LLC now owns 11,448 shares of the insurance provider’s stock worth $767,000 after purchasing an additional 163 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in First American Financial by 0.4% in the second quarter. Great West Life Assurance Co. Can now owns 47,127 shares of the insurance provider’s stock worth $2,937,000 after purchasing an additional 175 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in First American Financial by 9.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,555 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 310 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

In related news, President Kenneth D. Degiorgio sold 10,400 shares of the firm’s stock in a transaction on Monday, October 25th. The stock was sold at an average price of $74.50, for a total transaction of $774,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Kenneth D. Degiorgio sold 15,739 shares of First American Financial stock in a transaction dated Friday, October 22nd. The stock was sold at an average price of $74.71, for a total value of $1,175,860.69. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

A number of equities analysts have commented on FAF shares. Truist Securities boosted their price objective on First American Financial from $84.00 to $92.00 in a research note on Thursday. Truist upped their price target on First American Financial from $84.00 to $92.00 in a research note on Thursday. Finally, Cantor Fitzgerald cut their price target on First American Financial from $13.00 to $10.40 and set an “overweight” rating on the stock in a research note on Wednesday, December 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, First American Financial presently has an average rating of “Buy” and a consensus price target of $69.93.

NYSE FAF opened at $79.54 on Friday. The stock has a 50-day simple moving average of $76.69 and a 200 day simple moving average of $71.18. The company has a market capitalization of $8.73 billion, a PE ratio of 7.03 and a beta of 1.21. First American Financial Co. has a 12 month low of $48.69 and a 12 month high of $81.54.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 20th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.29. First American Financial had a return on equity of 17.25% and a net margin of 14.02%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities research analysts predict that First American Financial Co. will post 7.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 8th were given a dividend of $0.51 per share. The ex-dividend date was Tuesday, December 7th. This represents a $2.04 annualized dividend and a dividend yield of 2.56%. First American Financial’s dividend payout ratio is currently 18.04%.

First American Financial Profile

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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