Victory Capital Management Inc. Has $164.75 Million Holdings in First American Financial Co. (NYSE:FAF)

Victory Capital Management Inc. increased its stake in shares of First American Financial Co. (NYSE:FAF) by 19.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,495,766 shares of the insurance provider’s stock after buying an additional 405,146 shares during the quarter. Victory Capital Management Inc. owned 2.42% of First American Financial worth $164,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Eagle Investment Management LLC lifted its position 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 buying an additional 12,720 shares during the period. Vanguard Group Inc. raised its position in First American Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after purchasing an additional 431,089 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in First American Financial by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock valued at $76,977,000 after purchasing an additional 86,330 shares during the last quarter. SG Americas Securities LLC bought a new position in First American Financial in the 2nd quarter valued at $1,191,000. Finally, Seven Eight Capital LP bought a new position in First American Financial in the 1st quarter valued at $2,634,000. Institutional investors own 89.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FAF shares. Barclays lifted their price objective on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Truist Financial boosted their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Stephens lifted their price objective on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and an average target price of $72.50.

First American Financial Stock Up 0.6 %

Shares of First American Financial stock opened at $64.07 on Wednesday. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $67.88. The business has a fifty day simple moving average of $64.82 and a 200 day simple moving average of $59.72. The stock has a market cap of $6.60 billion, a PE ratio of 71.99 and a beta of 1.29.

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

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 3.37%. First American Financial’s payout ratio is 242.70%.

First American Financial 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.