Thrivent Financial for Lutherans Acquires 36,485 Shares of First American Financial Corporation $FAF

Thrivent Financial for Lutherans increased its holdings in shares of First American Financial Corporation (NYSE:FAF) by 129.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,774 shares of the insurance provider’s stock after acquiring an additional 36,485 shares during the quarter. Thrivent Financial for Lutherans’ holdings in First American Financial were worth $3,976,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FAF. Headlands Technologies LLC bought a new position in First American Financial during the second quarter worth $186,000. Corient Private Wealth LLC lifted its stake in shares of First American Financial by 5.8% during the 2nd quarter. Corient Private Wealth LLC now owns 815,530 shares of the insurance provider’s stock worth $50,065,000 after buying an additional 44,469 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of First American Financial by 163.3% during the 2nd quarter. Captrust Financial Advisors now owns 22,444 shares of the insurance provider’s stock worth $1,378,000 after buying an additional 13,920 shares during the period. Tidal Investments LLC boosted its holdings in shares of First American Financial by 289.0% during the 2nd quarter. Tidal Investments LLC now owns 14,149 shares of the insurance provider’s stock worth $869,000 after buying an additional 10,512 shares during the period. Finally, Orion Porfolio Solutions LLC grew its stake in First American Financial by 2.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 19,698 shares of the insurance provider’s stock valued at $1,209,000 after buying an additional 417 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 $62.98 on Friday. The business’s 50 day simple moving average is $63.09 and its 200 day simple moving average is $62.44. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $68.64. The company has a market capitalization of $6.42 billion, a P/E ratio of 13.54 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 for the quarter, beating analysts’ consensus estimates of $1.42 by $0.28. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The company’s revenue was up 40.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 EPS. On average, sell-side analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, December 8th. First American Financial’s dividend payout ratio is presently 47.31%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FAF shares. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays upped their target price on First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Stephens started coverage on First American Financial in a report on Friday, November 14th. They set an “equal weight” rating for the company. Weiss Ratings upgraded First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.50.

First American Financial Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.