Blueshift Asset Management LLC Acquires New Holdings in First American Financial Co. (NYSE:FAF)

Blueshift Asset Management LLC purchased a new position in First American Financial Co. (NYSE:FAF - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,132 shares of the insurance provider's stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Boston Partners boosted its stake in First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider's stock worth $248,237,000 after purchasing an additional 479,618 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider's stock worth $196,793,000 after acquiring an additional 515,710 shares in the last quarter. Ariel Investments LLC raised its holdings in shares of First American Financial by 2.8% during the 2nd quarter. Ariel Investments LLC now owns 3,609,697 shares of the insurance provider's stock worth $194,743,000 after acquiring an additional 97,158 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of First American Financial by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider's stock worth $164,746,000 after acquiring an additional 405,146 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of First American Financial by 4.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,493,111 shares of the insurance provider's stock worth $98,560,000 after acquiring an additional 66,290 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

First American Financial Stock Performance

FAF stock traded up $1.38 during midday trading on Thursday, reaching $70.63. The company's stock had a trading volume of 838,160 shares, compared to its average volume of 672,021. The stock has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $60.63. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $70.92. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 79.36 and a beta of 1.29.

First American Financial (NYSE:FAF - Get Free Report) last released its 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 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 analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The business's revenue was down 5.1% compared to the same quarter last year. As a group, analysts forecast that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial's payout ratio is 242.70%.

Analyst Ratings Changes

Several analysts have recently issued reports on FAF shares. Truist Financial upped their price objective on First American Financial from $68.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Barclays increased their price target on First American Financial from $70.00 to $72.00 and gave the company an "equal weight" rating in a 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 report on Wednesday, September 4th. Finally, Stephens increased 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.50.

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.