Federated Hermes Inc. Reduces Stock Holdings in First American Financial Co. (NYSE:FAF)

Federated Hermes Inc. decreased its stake in First American Financial Co. (NYSE:FAF) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,435 shares of the insurance provider’s stock after selling 223 shares during the quarter. Federated Hermes Inc.’s holdings in First American Financial were worth $617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. boosted its holdings in shares of First American Financial by 99.1% in the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 334 shares during the period. GAMMA Investing LLC boosted its holdings in shares of First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 257 shares during the period. Principal Securities Inc. purchased a new position in First American Financial during the 4th quarter valued at $45,000. Ashton Thomas Private Wealth LLC purchased a new position in First American Financial during the 2nd quarter valued at $47,000. Finally, Abich Financial Wealth Management LLC boosted 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 valued at $49,000 after acquiring an additional 288 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

FAF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Barclays dropped their price objective 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. Stephens reaffirmed an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Finally, Truist Financial lifted their target price 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

First American Financial Stock Down 2.6 %

Shares of NYSE FAF opened at $64.99 on Monday. The business has a fifty day simple moving average of $61.93 and a two-hundred day simple moving average of $57.85. The firm has a market cap of $6.74 billion, a PE ratio of 31.10 and a beta of 1.29. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $67.88.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 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 for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. On average, 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 business also recently declared 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. This represents a $2.16 annualized dividend and a dividend yield of 3.32%. 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. First American Financial’s 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.