Algert Global LLC Boosts Holdings in First American Financial Co. (NYSE:FAF)

Algert Global LLC grew its position in shares of First American Financial Co. (NYSE:FAF) by 101.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,493 shares of the insurance provider’s stock after purchasing an additional 57,180 shares during the period. Algert Global LLC’s holdings in First American Financial were worth $7,492,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FAF. Sei Investments Co. raised its stake in shares of First American Financial by 5.3% during the first quarter. Sei Investments Co. now owns 14,759 shares of the insurance provider’s stock valued at $901,000 after purchasing an additional 741 shares during the period. Bessemer Group Inc. increased its stake in shares of First American Financial by 4.9% in the first quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock worth $304,000 after buying an additional 234 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of First American Financial by 1.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 97,818 shares of the insurance provider’s stock worth $5,968,000 after buying an additional 1,782 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of First American Financial in the first quarter worth $158,000. Finally, Gabelli Funds LLC increased its stake in shares of First American Financial by 34.1% in the first quarter. Gabelli Funds LLC now owns 27,368 shares of the insurance provider’s stock worth $1,671,000 after buying an additional 6,965 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

First American Financial Stock Performance

Shares of FAF opened at $67.64 on Friday. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $67.88. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 76.00 and a beta of 1.29. The firm has a fifty day moving average of $64.92 and a 200-day moving average of $60.29.

First American Financial (NYSE:FAF) last announced its quarterly 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 net margin of 1.58% and a return on equity of 7.95%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts predict that First American Financial Co. will post 4.04 EPS for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s payout ratio is currently 242.70%.

First American Financial Company 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.