ARGA Investment Management LP Has $2.16 Million Holdings in First American Financial Co. (NYSE:FAF)

ARGA Investment Management LP lessened its position in shares of First American Financial Co. (NYSE:FAF) by 86.1% in the fourth quarter, HoldingsChannel reports. The fund owned 34,593 shares of the insurance provider’s stock after selling 214,581 shares during the period. ARGA Investment Management LP’s holdings in First American Financial were worth $2,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FAF. Creative Planning grew its holdings in First American Financial by 5.8% in the 2nd quarter. Creative Planning now owns 9,748 shares of the insurance provider’s stock valued at $526,000 after buying an additional 533 shares in the last quarter. Truist Financial Corp boosted its position in shares of First American Financial by 1.3% in the second quarter. Truist Financial Corp now owns 31,711 shares of the insurance provider’s stock valued at $1,711,000 after acquiring an additional 408 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of First American Financial in the second quarter valued at about $229,000. Handelsbanken Fonder AB increased its position in First American Financial by 15.3% during the third quarter. Handelsbanken Fonder AB now owns 23,360 shares of the insurance provider’s stock worth $1,542,000 after acquiring an additional 3,100 shares during the period. Finally, CWM LLC raised its stake in First American Financial by 114.8% in the 3rd quarter. CWM LLC now owns 13,379 shares of the insurance provider’s stock worth $883,000 after purchasing an additional 7,150 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FAF shares. Barclays increased their target price on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Truist Financial increased their price target 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. Stephens lifted their price objective on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reduced their target price on First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

First American Financial Price Performance

Shares of FAF opened at $62.88 on Wednesday. The firm has a 50 day simple moving average of $63.73 and a two-hundred day simple moving average of $63.71. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The company has a market cap of $6.48 billion, a P/E ratio of 70.65 and a beta of 1.33.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.54 per share. The ex-dividend date is Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.44%. First American Financial’s dividend payout ratio (DPR) is currently 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.