Allworth Financial LP Acquires 120,963 Shares of First American Financial Co. (NYSE:FAF)

Allworth Financial LP lifted its stake in First American Financial Co. (NYSE:FAF) by 2,868.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,180 shares of the insurance provider’s stock after buying an additional 120,963 shares during the quarter. Allworth Financial LP owned approximately 0.12% of First American Financial worth $7,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its stake in First American Financial by 2.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,530,977 shares of the insurance provider’s stock worth $95,594,000 after purchasing an additional 37,866 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of First American Financial in the fourth quarter worth about $593,000. Empowered Funds LLC boosted its stake in First American Financial by 6.7% during the fourth quarter. Empowered Funds LLC now owns 4,076 shares of the insurance provider’s stock valued at $255,000 after buying an additional 256 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in First American Financial during the 4th quarter valued at approximately $453,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in First American Financial in the 4th quarter worth approximately $1,106,000. Institutional investors own 89.05% of the company’s stock.

First American Financial Trading Up 1.2 %

Shares of NYSE:FAF opened at $63.77 on Monday. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 71.65 and a beta of 1.33. The firm’s 50-day moving average is $62.73 and its 200 day moving average is $63.97.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. As a group, equities 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 announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.39%. First American Financial’s dividend payout ratio (DPR) is 172.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price on First American Financial from $80.00 to $74.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Barclays lifted their price objective on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Stephens increased their price target on shares of First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Friday. Finally, Truist Financial boosted their price objective on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.25.

First American Financial Company 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.