Verition Fund Management LLC Has $3.15 Million Position in First American Financial Co. (NYSE:FAF)

Verition Fund Management LLC lifted its stake in First American Financial Co. (NYSE:FAF - Free Report) by 449.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,700 shares of the insurance provider's stock after acquiring an additional 39,017 shares during the period. Verition Fund Management LLC's holdings in First American Financial were worth $3,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FAF. Venturi Wealth Management LLC raised its holdings in First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 356 shares in the last quarter. Mather Group LLC. lifted its position in First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider's stock worth $36,000 after purchasing an additional 334 shares during the period. GAMMA Investing LLC lifted its position in First American Financial by 56.9% in the second 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. Quarry LP boosted its stake in First American Financial by 340.8% during the second quarter. Quarry LP now owns 864 shares of the insurance provider's stock worth $47,000 after buying an additional 668 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in First American Financial in the 2nd quarter valued at $47,000. Institutional investors own 89.05% of the company's stock.

First American Financial Stock Performance

First American Financial stock traded up $0.20 during trading hours on Thursday, hitting $69.00. 247,841 shares of the stock were exchanged, compared to its average volume of 668,899. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The business's 50-day moving average is $65.58 and its two-hundred day moving average is $61.09. The stock has a market capitalization of $7.11 billion, a P/E ratio of 77.30 and a beta of 1.30.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results 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 firm 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 business's revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.22 EPS. On average, equities analysts predict that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared 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 dividend yield of 3.13%. First American Financial's dividend payout ratio is 242.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of First American Financial from $68.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Keefe, Bruyette & Woods upped their price objective on First American Financial from $66.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Barclays raised their target price 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. Finally, Stephens upped their price target on First American Financial from $66.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $72.50.

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.