1,448,846 Shares in First American Financial Co. (NYSE:FAF) Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in First American Financial Co. (NYSE:FAF - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,448,846 shares of the insurance provider's stock, valued at approximately $95,638,000. Wellington Management Group LLP owned approximately 1.41% of First American Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. ArrowMark Colorado Holdings LLC purchased a new position in shares of First American Financial during the third quarter valued at approximately $43,431,000. Holocene Advisors LP purchased a new stake in First American Financial during the 3rd quarter valued at $36,803,000. Dimensional Fund Advisors LP lifted its holdings in shares of First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider's stock valued at $196,793,000 after buying an additional 515,710 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of First American Financial by 83.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 893,216 shares of the insurance provider's stock worth $58,961,000 after buying an additional 405,487 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of First American Financial by 19.4% in the third quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider's stock worth $164,746,000 after acquiring an additional 405,146 shares during the period. Institutional investors own 89.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods restated a "market perform" rating and set a $80.00 price target on shares of First American Financial in a research note on Tuesday. Stephens upped their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Truist Financial boosted their price objective on shares of First American Financial from $68.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Barclays lifted their target price on First American Financial from $70.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, First American Financial currently has an average rating of "Moderate Buy" and a consensus target price of $74.50.

First American Financial Stock Performance

Shares of NYSE FAF traded down $1.91 during midday trading on Tuesday, reaching $65.82. The stock had a trading volume of 609,574 shares, compared to its average volume of 667,894. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 76.10 and a beta of 1.30. First American Financial Co. has a 12-month low of $51.60 and a 12-month high of $70.92. The stock has a 50-day moving average of $65.76 and a 200-day moving average of $61.38.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted $1.22 EPS. First American Financial's revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, analysts forecast that First American Financial Co. will post 4.07 EPS 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 of this dividend is Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.28%. First American Financial's dividend payout ratio is presently 242.70%.

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.