Harbor Capital Advisors Inc. Has $5.42 Million Stake in First American Financial Co. (NYSE:FAF)

Harbor Capital Advisors Inc. boosted its stake in shares of First American Financial Co. (NYSE:FAF - Free Report) by 94.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,156 shares of the insurance provider's stock after acquiring an additional 39,924 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.08% of First American Financial worth $5,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAF. Mather Group LLC. increased its holdings in shares of First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC raised its position in shares of First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider's stock worth $38,000 after acquiring an additional 257 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of First American Financial during the second quarter valued at $47,000. Quarry LP boosted its holdings in First American Financial by 340.8% in the second quarter. Quarry LP now owns 864 shares of the insurance provider's stock valued at $47,000 after acquiring an additional 668 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in First American Financial by 56.5% in the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider's stock worth $49,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Price Performance

FAF traded down $0.23 during mid-day trading on Monday, hitting $62.55. The stock had a trading volume of 402,293 shares, compared to its average volume of 672,426. First American Financial Co. has a 1-year low of $51.60 and a 1-year high of $67.88. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 70.28 and a beta of 1.29. The stock's fifty day simple moving average is $64.86 and its 200-day simple moving average is $59.37.

First American Financial (NYSE:FAF - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The company's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts expect that First American Financial Co. will post 3.94 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 20th. This is a positive change from First American Financial's previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 3.45%. First American Financial's payout ratio is currently 242.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays raised their target price 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. Stephens raised their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods upped their target price on shares of 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, Truist Financial raised their price target on 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.