First American Financial Corporation $FAF Position Increased by Capital Research Global Investors

Capital Research Global Investors lifted its holdings in First American Financial Corporation (NYSE:FAF) by 194.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,306,583 shares of the insurance provider’s stock after buying an additional 2,183,960 shares during the quarter. Capital Research Global Investors’ holdings in First American Financial were worth $212,415,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. SJS Investment Consulting Inc. grew its position in shares of First American Financial by 2,887.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after buying an additional 462 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in First American Financial in the second quarter worth about $35,000. Atlantic Union Bankshares Corp acquired a new position in First American Financial in the second quarter valued at approximately $36,000. First Horizon Corp acquired a new position in First American Financial in the third quarter valued at approximately $37,000. Finally, Tripletail Wealth Management LLC acquired a new position in First American Financial in the third quarter valued at approximately $41,000. 89.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FAF. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Stephens upgraded First American Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $81.00 in a research note on Monday, March 2nd. Finally, Truist Financial boosted their price target on shares of First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

Insider Activity at First American Financial

In other First American Financial news, Director Parker S. Kennedy bought 44,841 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the purchase, the director directly owned 251,552 shares in the company, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is owned by insiders.

First American Financial Stock Down 1.2%

Shares of FAF stock opened at $65.51 on Wednesday. The stock has a 50-day simple moving average of $64.77 and a 200 day simple moving average of $64.09. The stock has a market capitalization of $6.67 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.69 and a beta of 1.25. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $71.47.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business earned $1.35 earnings per share. First American Financial’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, sell-side analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, March 9th. First American Financial’s payout ratio is presently 36.61%.

First American Financial 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.