Readystate Asset Management LP Makes New $971,000 Investment in First American Financial Co. (NYSE:FAF)

Readystate Asset Management LP purchased a new stake in shares of First American Financial Co. (NYSE:FAF - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,705 shares of the insurance provider's stock, valued at approximately $971,000.

Several other large investors have also added to or reduced their stakes in FAF. Blossom Wealth Management raised its holdings in First American Financial by 2.4% in the 3rd quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider's stock worth $469,000 after purchasing an additional 165 shares during the period. Custom Index Systems LLC raised its holdings in First American Financial by 2.3% in the 2nd quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider's stock worth $443,000 after purchasing an additional 182 shares during the period. Pacer Advisors Inc. raised its holdings in First American Financial by 1.2% in the 2nd quarter. Pacer Advisors Inc. now owns 15,560 shares of the insurance provider's stock worth $839,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC raised its holdings in First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider's stock worth $38,000 after purchasing an additional 257 shares during the period. Finally, Mather Group LLC. raised its holdings in shares of First American Financial by 99.1% during the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FAF. Keefe, Bruyette & Woods raised their target price 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. Barclays lifted their price objective on First American Financial from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Truist Financial lifted their price objective 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. Finally, Stephens lifted their price objective on First American Financial from $66.00 to $73.00 and gave the stock an "overweight" 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 stock. According to data from MarketBeat, First American Financial currently has an average rating of "Moderate Buy" and an average target price of $72.50.

First American Financial Stock Performance

Shares of NYSE FAF traded down $0.32 during trading on Thursday, reaching $68.48. The stock had a trading volume of 132,551 shares, compared to its average volume of 668,465. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92. The business's 50-day moving average price is $65.58 and its 200-day moving average price is $61.09. The company has a market cap of $7.05 billion, a P/E ratio of 77.30 and a beta of 1.30.

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 for the quarter, beating analysts' consensus estimates of $1.15 by $0.19. The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company's revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Analysts forecast that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced 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 yield of 3.15%. 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.