Fisher Asset Management LLC Has $28.17 Million Stake in First American Financial Corporation $FAF

Fisher Asset Management LLC cut its position in shares of First American Financial Corporation (NYSE:FAF) by 6.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 458,901 shares of the insurance provider’s stock after selling 30,930 shares during the quarter. Fisher Asset Management LLC’s holdings in First American Financial were worth $28,172,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FAF. Cetera Investment Advisers raised its position in shares of First American Financial by 137.8% in the 1st quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock worth $1,384,000 after acquiring an additional 12,222 shares in the last quarter. Advantage Alpha Capital Partners LP grew its stake in First American Financial by 14.2% during the first quarter. Advantage Alpha Capital Partners LP now owns 81,010 shares of the insurance provider’s stock worth $5,317,000 after purchasing an additional 10,044 shares during the period. AXQ Capital LP increased its holdings in First American Financial by 29.4% in the second quarter. AXQ Capital LP now owns 10,880 shares of the insurance provider’s stock worth $668,000 after purchasing an additional 2,470 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in First American Financial by 10.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,273 shares of the insurance provider’s stock valued at $280,000 after buying an additional 420 shares during the period. Finally, Bank of Nova Scotia lifted its stake in First American Financial by 44.2% in the first quarter. Bank of Nova Scotia now owns 35,011 shares of the insurance provider’s stock valued at $2,298,000 after buying an additional 10,738 shares during the period. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

FAF has been the subject of several recent analyst reports. Barclays raised their price objective on shares of First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. Stephens assumed coverage on shares of First American Financial in a report on Friday, November 14th. They issued an “equal weight” rating for the company. Truist Financial upped their price objective on shares of First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Finally, Weiss Ratings raised First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.00.

First American Financial Trading Down 1.3%

First American Financial stock opened at $65.10 on Wednesday. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 14.00 and a beta of 1.27. The firm’s fifty day moving average price is $62.84 and its two-hundred day moving average price is $61.78. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.68.

First American Financial (NYSE:FAF) last posted its earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.28. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The firm’s revenue was up 40.7% compared to the same quarter last year. On average, research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. First American Financial’s dividend payout ratio is 47.31%.

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.