Prospector Partners LLC Acquires 33,845 Shares of First American Financial Co. (NYSE:FAF)

Prospector Partners LLC raised its holdings in First American Financial Co. (NYSE:FAF) by 61.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,810 shares of the insurance provider’s stock after purchasing an additional 33,845 shares during the quarter. Prospector Partners LLC owned approximately 0.09% of First American Financial worth $4,791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FAF. Mather Group LLC. increased its stake in shares of First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after buying an additional 334 shares in the last quarter. Principal Securities Inc. bought a new position in First American Financial in the 4th quarter worth approximately $45,000. GAMMA Investing LLC lifted its holdings in First American Financial by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after buying an additional 257 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in First American Financial by 56.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock worth $49,000 after buying an additional 288 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in First American Financial in the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of FAF stock opened at $64.99 on Friday. The stock has a 50-day moving average of $61.93 and a 200-day moving average of $57.85. First American Financial Co. has a one year low of $49.55 and a one year high of $67.88. The stock has a market cap of $6.74 billion, a PE ratio of 31.10 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.13 by $0.14. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be issued a $0.54 dividend. This is an increase from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, September 20th. First American Financial’s dividend payout ratio is 103.35%.

Analyst Ratings Changes

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

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.