1,868 Shares in First American Financial Co. (NYSE:FAF) Purchased by Gemmer Asset Management LLC

Gemmer Asset Management LLC bought a new stake in shares of First American Financial Co. (NYSE:FAF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,868 shares of the insurance provider’s stock, valued at approximately $123,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of First American Financial by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after buying an additional 515,710 shares in the last quarter. Boston Partners boosted its holdings in shares of First American Financial by 13.3% during 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 during the last quarter. Vanguard Group Inc. grew its position in shares of First American Financial by 4.3% in the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after purchasing an additional 431,089 shares in the last quarter. Reinhart Partners LLC. increased its holdings in shares of First American Financial by 65.8% in the second quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock valued at $50,916,000 after purchasing an additional 374,662 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in First American Financial by 245.1% during the second quarter. AQR Capital Management LLC now owns 419,995 shares of the insurance provider’s stock worth $22,659,000 after buying an additional 298,302 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of NYSE FAF opened at $63.28 on Monday. The business has a 50-day moving average of $64.71 and a two-hundred day moving average of $59.09. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 33.84 and a beta of 1.29. First American Financial Co. has a 1 year low of $49.55 and a 1 year high of $67.88.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. As a group, equities research analysts expect that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

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

Analysts Set New Price Targets

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

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.