First American Financial Corporation $FAF Stock Holdings Lowered by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lessened its position in First American Financial Corporation (NYSE:FAF) by 96.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,381 shares of the insurance provider’s stock after selling 166,548 shares during the period. Burgundy Asset Management Ltd.’s holdings in First American Financial were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAF. Norges Bank acquired a new stake in shares of First American Financial in the second quarter valued at approximately $77,143,000. Channing Capital Management LLC raised its stake in First American Financial by 875.1% during the 2nd quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock valued at $81,250,000 after acquiring an additional 1,187,787 shares in the last quarter. Boston Partners boosted its position in First American Financial by 20.0% during the 2nd quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after acquiring an additional 940,687 shares during the period. Nuveen LLC acquired a new position in shares of First American Financial during the first quarter valued at $20,636,000. Finally, Davis Asset Management L.P. bought a new stake in shares of First American Financial during the second quarter valued at about $17,702,000. 89.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

First American Financial Price Performance

FAF stock opened at $64.60 on Friday. The company’s 50 day simple moving average is $62.83 and its 200-day simple moving average is $61.87. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $69.53. The firm has a market capitalization of $6.58 billion, a P/E ratio of 13.89 and a beta of 1.27.

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

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, December 8th. First American Financial’s dividend payout ratio (DPR) is currently 47.31%.

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.