Anchor Capital Advisors LLC Has $67.40 Million Position in First American Financial Co. (NYSE:FAF)

Anchor Capital Advisors LLC lowered its holdings in shares of First American Financial Co. (NYSE:FAF) by 8.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,045,935 shares of the insurance provider’s stock after selling 90,482 shares during the period. First American Financial accounts for about 1.8% of Anchor Capital Advisors LLC’s portfolio, making the stock its 11th largest position. Anchor Capital Advisors LLC’s holdings in First American Financial were worth $67,400,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of First American Financial during the 4th quarter valued at about $33,000. Headlands Technologies LLC bought a new stake in First American Financial in the fourth quarter valued at approximately $44,000. Chilton Capital Management LLC acquired a new position in shares of First American Financial in the fourth quarter valued at approximately $64,000. International Assets Investment Management LLC acquired a new position in First American Financial during the fourth quarter worth $87,000. Finally, Nixon Peabody Trust Co. bought a new position in shares of First American Financial in the 3rd quarter valued at about $201,000. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FAF shares. Keefe, Bruyette & Woods upgraded shares of First American Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $66.00 to $69.00 in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First American Financial in a report on Wednesday, January 10th. They set a “buy” rating on the stock. Stephens reiterated an “overweight” rating and issued a $72.00 target price on shares of First American Financial in a research note on Thursday. Finally, TheStreet downgraded shares of First American Financial from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.75.

First American Financial Stock Performance

Shares of First American Financial stock traded down $0.04 on Monday, hitting $54.18. 745,818 shares of the company traded hands, compared to its average volume of 707,454. The business has a 50-day simple moving average of $57.50 and a 200 day simple moving average of $58.33. First American Financial Co. has a 52 week low of $49.55 and a 52 week high of $65.54. The stock has a market capitalization of $5.61 billion, a P/E ratio of 26.06 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued its earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. First American Financial had a net margin of 3.64% and a return on equity of 8.18%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. Research analysts expect that First American Financial Co. will post 4.28 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.12 dividend on an annualized basis and a yield of 3.91%. First American Financial’s dividend payout ratio is presently 101.44%.

About First American Financial

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.