Garner Asset Management Corp Increases Position in First American Financial Co. (NYSE:FAF)

Garner Asset Management Corp raised its position in shares of First American Financial Co. (NYSE:FAF) by 18.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,552 shares of the insurance provider’s stock after purchasing an additional 2,838 shares during the period. Garner Asset Management Corp’s holdings in First American Financial were worth $1,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its stake in shares of First American Financial by 2.2% during the second quarter. First Eagle Investment Management LLC now owns 191,485 shares of the insurance provider’s stock worth $10,331,000 after acquiring an additional 4,200 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of First American Financial by 13.2% in the second quarter. Blair William & Co. IL now owns 5,347 shares of the insurance provider’s stock worth $288,000 after buying an additional 625 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of First American Financial by 11.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,437 shares of the insurance provider’s stock valued at $347,000 after acquiring an additional 664 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in First American Financial during the 2nd quarter valued at about $4,870,000. Finally, Dimensional Fund Advisors LP grew its position in First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after acquiring an additional 515,710 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on FAF shares. Truist Financial boosted their price objective on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Barclays decreased their price objective on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

First American Financial Price Performance

Shares of NYSE FAF opened at $66.97 on Thursday. First American Financial Co. has a 1 year low of $49.55 and a 1 year high of $67.88. The company’s 50-day moving average is $61.54 and its 200 day moving average is $57.74. The stock has a market capitalization of $6.95 billion, a P/E ratio of 32.04 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.14. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 EPS. Research analysts anticipate that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be given a $0.54 dividend. The ex-dividend date is Friday, September 20th. This is an increase from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.23%. First American Financial’s dividend payout ratio is currently 103.35%.

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.