Fisher Asset Management LLC Sells 2,948 Shares of First American Financial Co. (NYSE:FAF)

Fisher Asset Management LLC decreased its stake in First American Financial Co. (NYSE:FAF) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,489 shares of the insurance provider’s stock after selling 2,948 shares during the period. Fisher Asset Management LLC’s holdings in First American Financial were worth $36,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mather Group LLC. raised its stake 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 purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC lifted its stake in First American Financial by 56.9% in the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 257 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in First American Financial by 132.3% in the third quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 356 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of First American Financial in the 2nd quarter valued at about $47,000. Finally, Quarry LP increased its stake 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 purchasing an additional 668 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of NYSE FAF opened at $69.35 on Wednesday. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 77.92 and a beta of 1.29. The stock’s fifty day moving average price is $64.97 and its two-hundred day moving average price is $60.47. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92.

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

First American Financial Announces Dividend

The business 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. This represents a $2.16 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is currently 242.70%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FAF. Truist Financial raised their target price on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Stephens boosted their target price on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Barclays raised their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.50.

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.