Bar Harbor Wealth Management Increases Holdings in First American Financial Co. (NYSE:FAF)

Bar Harbor Wealth Management increased its stake in First American Financial Co. (NYSE:FAF) by 43.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,627 shares of the insurance provider’s stock after acquiring an additional 29,324 shares during the period. Bar Harbor Wealth Management owned approximately 0.09% of First American Financial worth $6,033,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Reinhart Partners LLC. boosted its holdings in shares of First American Financial by 2.8% in the 4th quarter. Reinhart Partners LLC. now owns 1,042,158 shares of the insurance provider’s stock worth $65,072,000 after purchasing an additional 28,755 shares during the period. Harbor Capital Advisors Inc. boosted its stake in First American Financial by 5.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 86,507 shares of the insurance provider’s stock worth $5,401,000 after buying an additional 4,351 shares during the period. ST Germain D J Co. Inc. increased its position in First American Financial by 1.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 232,034 shares of the insurance provider’s stock valued at $14,488,000 after acquiring an additional 3,773 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of First American Financial by 16.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,978 shares of the insurance provider’s stock valued at $1,187,000 after acquiring an additional 2,542 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of First American Financial by 34.9% in the 4th quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 277 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FAF shares. Barclays upped their price target on shares of 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 increased their price target on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Stephens boosted their price objective 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 reduced their target price on First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

First American Financial Trading Up 1.0 %

Shares of NYSE FAF traded up $0.59 during trading hours on Monday, reaching $58.29. The stock had a trading volume of 353,920 shares, compared to its average volume of 496,209. First American Financial Co. has a 52-week low of $51.60 and a 52-week high of $70.92. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 65.50 and a beta of 1.33. The business’s fifty day moving average price is $64.79 and its two-hundred day moving average price is $62.85.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (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 for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.71%. The ex-dividend date was Monday, December 9th. First American Financial’s payout ratio is 242.70%.

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.