HG Vora Capital Management LLC Decreases Stock Position in First American Financial Co. (NYSE:FAF)

HG Vora Capital Management LLC trimmed its stake in shares of First American Financial Co. (NYSE:FAF) by 25.1% during the third quarter, HoldingsChannel.com reports. The firm owned 3,800,000 shares of the insurance provider’s stock after selling 1,275,000 shares during the quarter. First American Financial makes up 18.4% of HG Vora Capital Management LLC’s portfolio, making the stock its 2nd largest position. HG Vora Capital Management LLC’s holdings in First American Financial were worth $250,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FAF. Blossom Wealth Management increased its stake in First American Financial by 2.4% in the 3rd quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider’s stock worth $469,000 after acquiring an additional 165 shares during the last quarter. Custom Index Systems LLC boosted its holdings in shares of First American Financial by 2.3% in the 2nd quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock worth $443,000 after purchasing an additional 182 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in First American Financial by 1.2% during the 2nd quarter. Pacer Advisors Inc. now owns 15,560 shares of the insurance provider’s stock valued at $839,000 after acquiring an additional 187 shares during the period. GAMMA Investing LLC boosted its holdings in First American Financial by 56.9% during the 2nd 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 period. Finally, Linden Thomas Advisory Services LLC raised its position in First American Financial by 1.1% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 25,897 shares of the insurance provider’s stock valued at $1,397,000 after purchasing an additional 284 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. 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 report on Friday, October 25th. 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 report on Friday, October 25th. Finally, Stephens increased their target price on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Trading Up 0.5 %

FAF opened at $70.49 on Tuesday. The firm has a market cap of $7.26 billion, a P/E ratio of 79.20 and a beta of 1.30. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The stock has a 50-day moving average of $65.39 and a 200 day moving average of $60.95.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts forecast that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is 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.