Sunbelt Securities Inc. Makes New $75,000 Investment in First American Financial Co. (NYSE:FAF)

Sunbelt Securities Inc. purchased a new stake in shares of First American Financial Co. (NYSE:FAF) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,135 shares of the insurance provider’s stock, valued at approximately $75,000.

A number of other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in First American Financial by 132.3% in the third quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock worth $41,000 after buying an additional 356 shares during the last quarter. Quarry LP increased its position in shares of First American Financial by 340.8% during the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 668 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of First American Financial during the second quarter valued at approximately $47,000. Blue Trust Inc. raised its holdings in First American Financial by 214.2% in the 3rd quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 696 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in First American Financial in the 3rd quarter valued at approximately $87,000. Institutional investors own 89.05% of the company’s stock.

First American Financial Stock Up 0.2 %

First American Financial stock opened at $65.63 on Monday. First American Financial Co. has a 52-week low of $51.60 and a 52-week high of $70.92. The company has a market cap of $6.76 billion, a P/E ratio of 73.74 and a beta of 1.30. The business has a 50-day simple moving average of $65.77 and a two-hundred day simple moving average of $61.69.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.66 billion. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 earnings per share. Research analysts anticipate that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.29%. First American Financial’s dividend payout ratio is currently 242.70%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FAF shares. Stephens lifted their target price on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial boosted their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $80.00 price target on shares of First American Financial in a report on Tuesday, December 10th. Finally, Barclays boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

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.