Granite Investment Partners LLC Sells 1,805 Shares of First American Financial Co. (NYSE:FAF)

Granite Investment Partners LLC decreased its holdings in shares of First American Financial Co. (NYSE:FAF) by 1.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,026 shares of the insurance provider’s stock after selling 1,805 shares during the quarter. Granite Investment Partners LLC owned 0.09% of First American Financial worth $5,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Custom Index Systems LLC increased its position in First American Financial by 2.3% during the 2nd quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock valued at $443,000 after purchasing an additional 182 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in First American Financial by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock valued at $630,000 after buying an additional 193 shares during the period. Blossom Wealth Management raised its stake in First American Financial by 2.9% in the second quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock worth $374,000 after buying an additional 195 shares in the last quarter. Bessemer Group Inc. lifted its holdings in First American Financial by 4.9% during the first quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock worth $304,000 after buying an additional 234 shares during the period. Finally, GAMMA Investing LLC boosted its position in First American Financial by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 257 shares in the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

First American Financial Stock Down 2.6 %

FAF stock opened at $64.97 on Friday. First American Financial Co. has a 52 week low of $49.55 and a 52 week high of $67.88. The stock has a market capitalization of $6.74 billion, a PE ratio of 31.09 and a beta of 1.29. The firm has a 50 day moving average of $61.93 and a 200 day moving average of $57.85.

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

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.32%. This is a boost from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, September 20th. First American Financial’s dividend payout ratio (DPR) is presently 103.35%.

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.