Pallas Capital Advisors LLC Raises Stock Position in First American Financial Co. (NYSE:FAF)

Pallas Capital Advisors LLC grew its holdings in First American Financial Co. (NYSE:FAF) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,149 shares of the insurance provider’s stock after acquiring an additional 272 shares during the period. Pallas Capital Advisors LLC’s holdings in First American Financial were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake in First American Financial by 23.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 20,783 shares of the insurance provider’s stock worth $1,121,000 after purchasing an additional 3,914 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of First American Financial by 112.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,810 shares of the insurance provider’s stock worth $583,000 after acquiring an additional 5,711 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in First American Financial by 5.6% during the second quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock valued at $8,067,000 after acquiring an additional 7,885 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in First American Financial by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after acquiring an additional 515,710 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in First American Financial in the 2nd quarter worth $4,870,000. Institutional investors own 89.05% of the company’s stock.

First American Financial Trading Up 2.2 %

FAF opened at $59.51 on Wednesday. The stock has a 50-day moving average of $64.63 and a 200 day moving average of $62.93. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The firm has a market cap of $6.13 billion, a P/E ratio of 66.87 and a beta of 1.33.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. On average, research analysts forecast that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Monday, December 9th. First American Financial’s dividend payout ratio is currently 242.70%.

Analyst Ratings Changes

FAF has been the subject of a number of research analyst reports. Stephens raised their price objective on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays raised their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Truist Financial upped their price objective on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut their target price on shares of First American Financial from $80.00 to $74.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.