Intech Investment Management LLC Buys New Position in First American Financial Co. (NYSE:FAF)

Intech Investment Management LLC purchased a new position in First American Financial Co. (NYSE:FAF) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,331 shares of the insurance provider’s stock, valued at approximately $1,636,000.

Several other large investors also recently bought and sold shares of the company. Custom Index Systems LLC boosted its stake in shares of First American Financial by 2.3% in the second quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock valued at $443,000 after purchasing an additional 182 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of First American Financial by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock worth $630,000 after acquiring an additional 193 shares during the last quarter. Blossom Wealth Management lifted its stake in shares of First American Financial by 2.9% in the second quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock worth $374,000 after acquiring an additional 195 shares in the last quarter. Bessemer Group Inc. boosted its holdings in First American Financial by 4.9% in the first quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after purchasing an additional 234 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in First American Financial by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 257 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $65.01 on Tuesday. The company’s fifty day moving average is $62.09 and its two-hundred day moving average is $57.91. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $67.88. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 31.11 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. First American Financial’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. Sell-side analysts expect that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stephens reiterated an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research note on Thursday, July 25th. Barclays reduced their price objective on shares of 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. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Truist Financial increased their price target on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

First American Financial Company 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.