February 9, 2023

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Inspire Investing LLC Takes Position in First American Financial Co. (NYSE:FAF)

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Inspire Investing LLC purchased a new stake in First American Financial Co. (NYSE:FAFGet Rating) in the first quarter, Holdings Channel reports. The firm purchased 3,605 shares of the insurance provider’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FAF. HG Vora Capital Management LLC increased its holdings in shares of First American Financial by 8.4% in the 4th quarter. HG Vora Capital Management LLC now owns 10,300,000 shares of the insurance provider’s stock valued at $805,769,000 after acquiring an additional 800,000 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of First American Financial by 56.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,751,230 shares of the insurance provider’s stock valued at $136,999,000 after acquiring an additional 634,833 shares during the last quarter. Invesco Ltd. increased its holdings in shares of First American Financial by 84.6% in the 4th quarter. Invesco Ltd. now owns 498,062 shares of the insurance provider’s stock valued at $38,962,000 after acquiring an additional 228,233 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of First American Financial by 21.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,210,488 shares of the insurance provider’s stock valued at $94,696,000 after acquiring an additional 212,653 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its position in First American Financial by 280.5% during the 4th quarter. Great Lakes Advisors LLC now owns 269,799 shares of the insurance provider’s stock valued at $21,106,000 after purchasing an additional 198,885 shares during the period. Institutional investors and hedge funds own 84.95% of the company’s stock.

In other First American Financial news, COO Christopher Michael Leavell sold 39,206 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $59.61, for a total transaction of $2,337,069.66. Following the completion of the transaction, the chief operating officer now owns 166,465 shares in the company, valued at approximately $9,922,978.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

Shares of FAF stock opened at $54.13 on Friday. First American Financial Co. has a 1 year low of $48.81 and a 1 year high of $81.54. The stock has a fifty day moving average of $56.87 and a two-hundred day moving average of $64.93. The firm has a market capitalization of $5.81 billion, a PE ratio of 5.45 and a beta of 1.22.

First American Financial (NYSE:FAFGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). First American Financial had a return on equity of 15.61% and a net margin of 11.98%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. As a group, analysts predict that First American Financial Co. will post 6.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 8th were given a dividend of $0.51 per share. The ex-dividend date was Tuesday, June 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.77%. First American Financial’s dividend payout ratio (DPR) is presently 20.54%.

A number of research analysts recently issued reports on the company. StockNews.com assumed coverage on First American Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group lowered First American Financial from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $97.00 to $74.00 in a research report on Friday, April 1st. Finally, BTIG Research reduced their price objective on First American Financial from $81.00 to $79.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and a consensus price target of $69.48.

First American Financial Profile (Get Rating)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

Further Reading

Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Financial Co. (NYSE:FAFGet Rating).

Institutional Ownership by Quarter for First American Financial (NYSE:FAF)



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