Sanctuary Advisors LLC Makes New Investment in First American Financial Co. (NYSE:FAF)

Sanctuary Advisors LLC acquired a new position in First American Financial Co. (NYSE:FAF) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,227 shares of the insurance provider’s stock, valued at approximately $229,000.

A number of other hedge funds also recently modified their holdings of the company. Mather Group LLC. lifted its position in shares of First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after buying an additional 334 shares during the period. GAMMA Investing LLC lifted its position in shares of First American Financial by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after buying an additional 257 shares during the period. Abich Financial Wealth Management LLC lifted its position in shares of First American Financial by 56.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock worth $49,000 after buying an additional 288 shares during the period. Quarry LP lifted its position in shares of First American Financial by 340.8% during the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after buying an additional 668 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of First American Financial during the 2nd quarter worth approximately $47,000. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FAF. Stephens restated an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Keefe, Bruyette & Woods raised their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Barclays lifted their price objective on First American Financial from $61.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, Truist Financial lifted their price objective on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $69.00.

First American Financial Stock Down 0.5 %

Shares of First American Financial stock opened at $66.89 on Friday. First American Financial Co. has a 12 month low of $49.55 and a 12 month high of $67.88. The business has a fifty day simple moving average of $64.44 and a 200 day simple moving average of $58.94. The stock has a market cap of $6.94 billion, a PE ratio of 32.00 and a beta of 1.29.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. Analysts expect that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, September 20th. First American Financial’s payout ratio is 103.35%.

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.