HighTower Advisors LLC Has $585,000 Stake in First American Financial Co. (NYSE:FAF)

HighTower Advisors LLC increased its position in shares of First American Financial Co. (NYSE:FAF) by 7.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,932 shares of the insurance provider’s stock after acquiring an additional 615 shares during the period. HighTower Advisors LLC’s holdings in First American Financial were worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FAF. Envestnet Asset Management Inc. grew its holdings in shares of First American Financial by 5.6% during the second quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock worth $8,067,000 after purchasing an additional 7,885 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in First American Financial during the 2nd quarter worth approximately $243,000. Primoris Wealth Advisors LLC bought a new stake in First American Financial during the 3rd quarter worth approximately $1,584,000. Vaughan Nelson Investment Management L.P. increased its position in First American Financial by 4.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,493,111 shares of the insurance provider’s stock valued at $98,560,000 after acquiring an additional 66,290 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of First American Financial by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,145 shares of the insurance provider’s stock valued at $73,809,000 after acquiring an additional 8,315 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Trading Down 0.9 %

Shares of First American Financial stock opened at $61.55 on Friday. The company has a market cap of $6.34 billion, a P/E ratio of 69.16 and a beta of 1.30. The business has a 50-day moving average price of $65.80 and a two-hundred day moving average price of $61.83. First American Financial Co. has a 1-year low of $51.60 and a 1-year high of $70.92.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.54 per share. The ex-dividend date was Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.51%. First American Financial’s payout ratio is presently 242.70%.

Wall Street Analyst Weigh In

FAF has been the topic of several analyst reports. Barclays boosted their price objective on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Stephens upped their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $80.00 price objective on shares of First American Financial in a research report on Tuesday, December 10th. Finally, Truist Financial upped their target price on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.50.

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.