Custom Index Systems LLC Increases Holdings in First American Financial Co. (NYSE:FAF)

Custom Index Systems LLC boosted its stake in shares of First American Financial Co. (NYSE:FAF) by 130.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,975 shares of the insurance provider’s stock after buying an additional 10,757 shares during the period. First American Financial accounts for 0.7% of Custom Index Systems LLC’s investment portfolio, making the stock its 29th largest position. Custom Index Systems LLC’s holdings in First American Financial were worth $1,253,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue lifted its holdings in shares of First American Financial by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,953 shares of the insurance provider’s stock worth $789,000 after acquiring an additional 810 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in First American Financial by 32.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,436 shares of the insurance provider’s stock valued at $1,019,000 after purchasing an additional 3,773 shares during the period. Allworth Financial LP lifted its stake in First American Financial by 86.4% during the third quarter. Allworth Financial LP now owns 4,217 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 1,955 shares in the last quarter. Blossom Wealth Management grew its stake in shares of First American Financial by 2.4% in the third quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider’s stock valued at $469,000 after buying an additional 165 shares in the last quarter. Finally, Fortis Group Advisors LLC acquired a new stake in shares of First American Financial in the third quarter valued at $1,869,000. 89.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FAF has been the topic of several research reports. Barclays increased their target price on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday. Truist Financial increased their price target on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday. Stephens lifted their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $72.50.

First American Financial Stock Performance

Shares of FAF traded down $0.66 during midday trading on Friday, hitting $63.28. The company had a trading volume of 550,624 shares, compared to its average volume of 724,231. The company’s 50-day simple moving average is $64.71 and its 200-day simple moving average is $59.07. First American Financial Co. has a 1 year low of $49.55 and a 1 year high of $67.88. The firm has a market capitalization of $6.51 billion, a P/E ratio of 33.84 and a beta of 1.29.

First American Financial (NYSE:FAF) 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 net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts predict that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Friday, September 20th. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio is 115.51%.

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.