Sumitomo Mitsui Trust Group Inc. Invests $1.11 Million in First American Financial Co. (NYSE:FAF)

Sumitomo Mitsui Trust Group Inc. acquired a new position in First American Financial Co. (NYSE:FAF) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 17,712 shares of the insurance provider’s stock, valued at approximately $1,106,000.

Several other hedge funds also recently made changes to their positions in the business. Blossom Wealth Management grew its stake in shares of First American Financial by 2.4% in the 3rd quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 165 shares during the last quarter. UMB Bank n.a. grew its stake in shares of First American Financial by 66.9% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 210 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of First American Financial by 4.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,149 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 272 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of First American Financial by 34.9% in the 4th quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider’s stock worth $67,000 after purchasing an additional 277 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 356 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

FAF stock opened at $63.77 on Friday. The stock has a market cap of $6.57 billion, a P/E ratio of 71.65 and a beta of 1.33. The firm has a 50 day simple moving average of $62.73 and a 200 day simple moving average of $63.92. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. Sell-side analysts predict that First American Financial Co. will post 4.07 EPS for the current year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, March 10th. First American Financial’s dividend payout ratio is currently 242.70%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FAF shares. Keefe, Bruyette & Woods dropped their target price on shares of First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their target price on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Truist Financial lifted their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Stephens lifted their target price on shares of First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.25.

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.