Primoris Wealth Advisors LLC Acquires New Stake in First American Financial Co. (NYSE:FAF)

Primoris Wealth Advisors LLC purchased a new stake in shares of First American Financial Co. (NYSE:FAF - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,000 shares of the insurance provider's stock, valued at approximately $1,584,000.

Several other institutional investors have also recently bought and sold shares of FAF. Capital Performance Advisors LLP acquired a new stake in First American Financial in the 3rd quarter valued at about $87,000. 1834 Investment Advisors Co. increased its holdings in shares of First American Financial by 1.5% in the third quarter. 1834 Investment Advisors Co. now owns 29,604 shares of the insurance provider's stock valued at $1,954,000 after purchasing an additional 425 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of First American Financial by 7.0% in the third quarter. QRG Capital Management Inc. now owns 33,864 shares of the insurance provider's stock valued at $2,235,000 after purchasing an additional 2,226 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in First American Financial by 94.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 82,156 shares of the insurance provider's stock worth $5,423,000 after buying an additional 39,924 shares in the last quarter. Finally, Stephenson & Company Inc. acquired a new position in First American Financial during the 3rd quarter worth $227,000. Institutional investors own 89.05% of the company's stock.

First American Financial Price Performance

Shares of First American Financial stock traded up $1.74 during trading on Friday, hitting $64.23. 590,117 shares of the company were exchanged, compared to its average volume of 702,144. The firm has a market capitalization of $6.62 billion, a P/E ratio of 72.17 and a beta of 1.29. The firm's fifty day moving average price is $64.82 and its 200 day moving average price is $59.57. First American Financial Co. has a 1-year low of $51.60 and a 1-year high of $67.88.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. As a group, equities research analysts anticipate that First American Financial Co. will post 3.99 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.54 per share. The ex-dividend date is Monday, December 9th. This represents a $2.16 annualized dividend and a yield of 3.36%. First American Financial's dividend payout ratio is presently 242.70%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price 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. Stephens boosted their price objective on First American Financial from $66.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $66.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.