First American Financial Co. (NYSE:FAF) is HG Vora Capital Management LLC’s 2nd Largest Position

HG Vora Capital Management LLC cut its stake in shares of First American Financial Co. (NYSE:FAF) by 25.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,800,000 shares of the insurance provider’s stock after selling 1,275,000 shares during the period. First American Financial makes up 18.4% of HG Vora Capital Management LLC’s holdings, making the stock its 2nd biggest holding. HG Vora Capital Management LLC owned approximately 3.69% of First American Financial worth $250,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in FAF. Mather Group LLC. raised its position in shares of First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 334 shares during the last quarter. GAMMA Investing LLC boosted its holdings in First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after buying an additional 257 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 356 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of First American Financial during the 2nd quarter valued at $47,000. Finally, Quarry LP grew its position in First American Financial by 340.8% in the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FAF. Barclays upped their price target on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Truist Financial boosted their price objective on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Stephens lifted their price objective 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 issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Trading Up 0.5 %

Shares of FAF stock opened at $70.49 on Tuesday. The firm has a market capitalization of $7.26 billion, a P/E ratio of 79.20 and a beta of 1.30. The firm’s fifty day moving average price is $65.39 and its two-hundred day moving average price is $60.95. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $70.92.

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

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is presently 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.