Trajan Wealth LLC Acquires Shares of 3,715 First American Financial Co. (NYSE:FAF)

Trajan Wealth LLC bought a new position in shares of First American Financial Co. (NYSE:FAF) in the third quarter, HoldingsChannel reports. The firm bought 3,715 shares of the insurance provider’s stock, valued at approximately $245,000.

Several other hedge funds have also modified their holdings of FAF. Pallas Capital Advisors LLC lifted its stake in shares of First American Financial by 30.9% in the third quarter. Pallas Capital Advisors LLC now owns 5,877 shares of the insurance provider’s stock valued at $376,000 after purchasing an additional 1,387 shares during the period. Hunter Associates Investment Management LLC increased its holdings in First American Financial by 1.7% in the third quarter. Hunter Associates Investment Management LLC now owns 40,695 shares of the insurance provider’s stock valued at $2,682,000 after buying an additional 662 shares in the last quarter. Gemmer Asset Management LLC acquired a new stake in shares of First American Financial during the 3rd quarter valued at approximately $123,000. Custom Index Systems LLC boosted its stake in shares of First American Financial by 130.9% during the 3rd quarter. Custom Index Systems LLC now owns 18,975 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 10,757 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of First American Financial by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,953 shares of the insurance provider’s stock worth $789,000 after acquiring an additional 810 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Price Performance

NYSE:FAF opened at $64.66 on Thursday. First American Financial Co. has a 1-year low of $50.54 and a 1-year high of $67.88. The firm has a 50 day simple moving average of $64.80 and a 200-day simple moving average of $59.19. The firm has a market cap of $6.65 billion, a PE ratio of 72.65 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 EPS. As a group, sell-side analysts expect that First American Financial Co. will post 3.89 earnings per share 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. Stockholders 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 represents a $2.16 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio is currently 242.70%.

Analyst Ratings Changes

FAF has been the subject of several research reports. Barclays lifted their price objective on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Stephens lifted their price target on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective 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. Finally, Truist Financial lifted their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.50.

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.