Fortis Group Advisors LLC Acquires New Holdings in First American Financial Co. (NYSE:FAF)

Fortis Group Advisors LLC bought a new position in shares of First American Financial Co. (NYSE:FAF) in the 3rd quarter, HoldingsChannel reports. The fund bought 28,315 shares of the insurance provider’s stock, valued at approximately $1,869,000.

A number of other institutional investors have also made changes to their positions in the stock. Mather Group LLC. boosted its position in shares of First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 334 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 257 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of First American Financial by 56.5% during the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock worth $49,000 after buying an additional 288 shares during the period. Quarry LP grew its stake 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 valued at $47,000 after buying an additional 668 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of First American Financial in the 2nd quarter valued at $47,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Trading Down 0.7 %

NYSE:FAF traded down $0.47 during mid-day trading on Tuesday, hitting $63.97. The stock had a trading volume of 67,420 shares, compared to its average volume of 668,907. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $67.88. The company has a market capitalization of $6.64 billion, a PE ratio of 30.82 and a beta of 1.29. The stock has a 50-day simple moving average of $64.53 and a two-hundred day simple moving average of $58.96.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts predict that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 3.38%. First American Financial’s dividend payout ratio is currently 103.35%.

Analyst Upgrades and Downgrades

FAF has been the subject of a number of research analyst reports. Barclays raised their target price on First American Financial from $61.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Stephens reissued an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Truist Financial upped their target price on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.