Holocene Advisors LP Takes $36.80 Million Position in First American Financial Co. (NYSE:FAF)

Holocene Advisors LP purchased a new position in shares of First American Financial Co. (NYSE:FAF) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 557,537 shares of the insurance provider’s stock, valued at approximately $36,803,000. Holocene Advisors LP owned 0.54% of First American Financial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of First American Financial by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock worth $76,977,000 after purchasing an additional 86,330 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of First American Financial in the second quarter valued at $1,191,000. Tidal Investments LLC bought a new position in shares of First American Financial in the first quarter valued at $812,000. Envestnet Asset Management Inc. grew its holdings in shares of 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 buying an additional 7,885 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of First American Financial during the second quarter worth about $243,000. Institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on FAF shares. Barclays lifted their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Truist Financial lifted their target price on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Stephens lifted their price objective on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

First American Financial Trading Up 0.5 %

Shares of First American Financial stock opened at $70.49 on Tuesday. The firm has a market capitalization of $7.26 billion, a P/E ratio of 79.20 and a beta of 1.30. The business’s fifty day simple moving average is $65.39 and its 200 day simple moving average is $60.95. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92.

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. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $1.22 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. Analysts predict that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.54 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.06%. First American Financial’s dividend payout ratio (DPR) is presently 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.