KBC Group NV Acquires 399 Shares of First American Financial Co. (NYSE:FAF)

KBC Group NV boosted its stake in shares of First American Financial Co. (NYSE:FAF) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,095 shares of the insurance provider’s stock after purchasing an additional 399 shares during the period. KBC Group NV’s holdings in First American Financial were worth $204,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in First American Financial by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after acquiring an additional 515,710 shares during the period. Boston Partners lifted its holdings in First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after purchasing an additional 479,618 shares in the last quarter. Vanguard Group Inc. boosted its stake in First American Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after purchasing an additional 431,089 shares during the period. Victory Capital Management Inc. grew its holdings in First American Financial by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock valued at $164,746,000 after buying an additional 405,146 shares in the last quarter. Finally, Reinhart Partners LLC. raised its position in shares of First American Financial by 65.8% during the second quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock valued at $50,916,000 after buying an additional 374,662 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

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

First American Financial Stock Up 0.2 %

NYSE:FAF opened at $66.41 on Thursday. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $67.88. The stock’s fifty day moving average is $64.86 and its two-hundred day moving average is $60.16. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 74.62 and a beta of 1.29.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $1.22 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts expect that First American Financial Co. will post 4.04 EPS for the current fiscal year.

First American Financial Announces Dividend

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 paid 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 dividend yield of 3.25%. First American Financial’s dividend payout ratio (DPR) 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.