Lecap Asset Management Ltd. Buys New Position in First American Financial Co. (NYSE:FAF)

Lecap Asset Management Ltd. acquired a new stake in First American Financial Co. (NYSE:FAF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,251 shares of the insurance provider's stock, valued at approximately $453,000.

A number of other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in First American Financial by 66.9% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 210 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of First American Financial by 132.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider's stock worth $41,000 after purchasing an additional 356 shares during the period. Blue Trust Inc. raised its holdings in First American Financial by 214.2% in the third quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider's stock valued at $67,000 after buying an additional 696 shares during the period. GAMMA Investing LLC lifted its position in First American Financial by 34.9% during the fourth quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider's stock valued at $67,000 after buying an additional 277 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of First American Financial in the third quarter worth $75,000. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Price Performance

Shares of NYSE:FAF traded down $0.89 during midday trading on Wednesday, reaching $62.61. The company had a trading volume of 552,907 shares, compared to its average volume of 430,457. The stock has a market capitalization of $6.45 billion, a P/E ratio of 70.35 and a beta of 1.33. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The stock's fifty day moving average price is $62.95 and its 200-day moving average price is $63.90.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.22. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. As a group, sell-side analysts forecast that First American Financial Co. will post 4.07 earnings per share for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.16 annualized dividend and a yield of 3.45%. First American Financial's payout ratio is 242.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FAF. Keefe, Bruyette & Woods reduced their price objective 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. Truist Financial upped 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. Barclays lifted their price objective on shares of 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. Finally, Stephens lifted their price target on shares of First American Financial from $66.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, First American Financial currently has an average rating of "Moderate Buy" and an average target price of $73.00.

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.