First American Financial Corporation $FAF Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia grew its holdings in shares of First American Financial Corporation (NYSE:FAF) by 418.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 181,433 shares of the insurance provider’s stock after acquiring an additional 146,422 shares during the period. Bank of Nova Scotia’s holdings in First American Financial were worth $11,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FAF. ProShare Advisors LLC increased its holdings in First American Financial by 3.9% in the second quarter. ProShare Advisors LLC now owns 4,561 shares of the insurance provider’s stock valued at $280,000 after buying an additional 172 shares during the last quarter. Adams Wealth Management grew its holdings in shares of First American Financial by 1.9% during the first quarter. Adams Wealth Management now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after purchasing an additional 207 shares during the last quarter. CacheTech Inc. raised its position in shares of First American Financial by 1.9% during the 1st quarter. CacheTech Inc. now owns 10,983 shares of the insurance provider’s stock worth $721,000 after purchasing an additional 207 shares during the period. American Century Companies Inc. increased its position in First American Financial by 0.5% in the first quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock worth $2,823,000 after buying an additional 229 shares during the period. Finally, Knightsbridge Asset Management LLC lifted its stake in First American Financial by 3.7% in the first quarter. Knightsbridge Asset Management LLC now owns 7,778 shares of the insurance provider’s stock valued at $510,000 after buying an additional 281 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Stock Performance

FAF opened at $63.46 on Thursday. First American Financial Corporation has a one year low of $53.09 and a one year high of $68.64. The stock’s fifty day moving average is $62.75 and its 200-day moving average is $62.02. The company has a market capitalization of $6.47 billion, a PE ratio of 13.65 and a beta of 1.27.

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

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, December 8th. First American Financial’s payout ratio is presently 47.31%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stephens started coverage on shares of First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Barclays upped their target price 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. Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. 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, Truist Financial increased their price target on First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, First American Financial presently has an average rating of “Hold” and a consensus price target of $76.00.

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.