Vaughan Nelson Investment Management L.P. Has $98.56 Million Stock Holdings in First American Financial Co. (NYSE:FAF)

Vaughan Nelson Investment Management L.P. lifted its stake in shares of First American Financial Co. (NYSE:FAF) by 4.6% in the third quarter, Holdings Channel.com reports. The fund owned 1,493,111 shares of the insurance provider’s stock after acquiring an additional 66,290 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in First American Financial were worth $98,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its holdings in First American Financial by 132.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 356 shares during the last quarter. Mather Group LLC. raised its stake in First American Financial by 99.1% during the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after buying an additional 334 shares during the last quarter. GAMMA Investing LLC raised its stake in First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after buying an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC lifted its holdings in First American Financial by 56.5% in the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock valued at $49,000 after buying an additional 288 shares during the period. Finally, Quarry LP boosted its position in First American Financial by 340.8% during the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 668 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays boosted their price objective on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Stephens boosted their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Stock Performance

Shares of FAF opened at $64.98 on Friday. The firm has a market capitalization of $6.69 billion, a P/E ratio of 73.01 and a beta of 1.29. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $67.88. The stock has a 50 day moving average price of $64.79 and a two-hundred day moving average price of $59.90.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. First American Financial’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast that First American Financial Co. will post 3.99 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.54 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.32%. First American Financial’s dividend payout ratio is currently 242.70%.

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.