Barclays PLC Raises Stock Position in First American Financial Co. (NYSE:FAF)

Barclays PLC increased its position in First American Financial Co. (NYSE:FAF) by 15.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,821 shares of the insurance provider’s stock after acquiring an additional 8,047 shares during the period. Barclays PLC owned approximately 0.06% of First American Financial worth $4,016,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its holdings in shares of First American Financial by 132.3% in the third quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 356 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in First American Financial during the second quarter worth $47,000. Quarry LP raised its holdings in shares of First American Financial by 340.8% in the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 668 shares during the last quarter. Blue Trust Inc. lifted its position in shares of First American Financial by 214.2% in the third quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 696 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of First American Financial during the third quarter valued at $87,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Performance

Shares of FAF stock opened at $62.82 on Monday. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 70.59 and a beta of 1.30. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The company has a 50 day moving average price of $65.73 and a 200 day moving average price of $61.98.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping 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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted $1.22 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts forecast that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.54 dividend. The ex-dividend date was Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.44%. First American Financial’s dividend payout ratio (DPR) is 242.70%.

Analyst Ratings Changes

A number of research firms have issued reports on FAF. Truist Financial upped their target price on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays raised their target price on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Stephens boosted their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $80.00 price objective on shares of First American Financial in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and three have given 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 $74.50.

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.