Oppenheimer Asset Management Inc. Purchases 5,711 Shares of First American Financial Co. (NYSE:FAF)

Oppenheimer Asset Management Inc. raised its position in shares of First American Financial Co. (NYSE:FAF) by 112.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,810 shares of the insurance provider’s stock after purchasing an additional 5,711 shares during the period. Oppenheimer Asset Management Inc.’s holdings in First American Financial were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. bought a new stake in shares of First American Financial in the fourth quarter valued at about $45,000. BNP Paribas Financial Markets increased its position in First American Financial by 15.0% during the 4th quarter. BNP Paribas Financial Markets now owns 20,551 shares of the insurance provider’s stock valued at $1,324,000 after purchasing an additional 2,678 shares during the period. Norges Bank bought a new stake in shares of First American Financial in the 4th quarter valued at about $76,210,000. Corient Private Wealth LLC lifted its position in shares of First American Financial by 20.2% in the 4th quarter. Corient Private Wealth LLC now owns 13,200 shares of the insurance provider’s stock worth $851,000 after purchasing an additional 2,222 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of First American Financial by 19.3% during the fourth quarter. Franklin Resources Inc. now owns 17,406 shares of the insurance provider’s stock valued at $1,122,000 after purchasing an additional 2,813 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 analysts have weighed in on the company. Barclays lowered their target price on First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. 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. Keefe, Bruyette & Woods raised their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Stephens reiterated an “overweight” rating and issued a $66.00 target price on shares of First American Financial in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, First American Financial has a consensus rating of “Moderate Buy” and an average price target of $66.75.

First American Financial Price Performance

First American Financial stock opened at $64.97 on Friday. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $67.88. The business has a fifty day moving average price of $61.93 and a 200-day moving average price of $57.85. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 31.09 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $1.61 billion for 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 company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 earnings per share. On average, equities research analysts anticipate that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.54 per share. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a yield of 3.32%. First American Financial’s dividend payout ratio is presently 103.35%.

First American Financial 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.