Vaughan Nelson Investment Management L.P. Acquires Shares of 327,340 First American Financial Corporation $FAF

Vaughan Nelson Investment Management L.P. bought a new stake in shares of First American Financial Corporation (NYSE:FAF) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 327,340 shares of the insurance provider’s stock, valued at approximately $21,028,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in First American Financial by 121.3% in the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 813 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of First American Financial by 10.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock worth $19,233,000 after acquiring an additional 28,666 shares during the period. Caxton Associates LLP purchased a new stake in shares of First American Financial during the first quarter worth $952,000. United Services Automobile Association purchased a new position in First American Financial during the first quarter valued at approximately $445,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in First American Financial by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock worth $27,180,000 after buying an additional 27,600 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Price Performance

Shares of FAF opened at $61.27 on Thursday. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 13.18 and a beta of 1.27. The company has a 50-day moving average of $63.17 and a 200 day moving average of $62.81. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $68.64.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $1.34 EPS. First American Financial’s quarterly revenue was up 40.7% on a year-over-year basis. On average, equities analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a $0.55 dividend. The ex-dividend date was Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.6%. First American Financial’s dividend payout ratio (DPR) is currently 47.31%.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of research analyst reports. Barclays reduced their target price on First American Financial from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Keefe, Bruyette & Woods lifted their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Stephens initiated coverage on shares of First American Financial in a research note on Friday, November 14th. They set an “equal weight” rating on the stock. Finally, Truist Financial boosted their price target on First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $75.75.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.