Paloma Partners Management Co Acquires New Holdings in First American Financial Co. (NYSE:FAF)

Paloma Partners Management Co acquired a new stake in shares of First American Financial Co. (NYSE:FAF) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,221 shares of the insurance provider’s stock, valued at approximately $380,000.

Other institutional investors have also recently bought and sold shares of the company. Verition Fund Management LLC grew its holdings in First American Financial by 21.3% during the fourth quarter. Verition Fund Management LLC now owns 196,081 shares of the insurance provider’s stock valued at $12,635,000 after purchasing an additional 34,444 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of First American Financial by 7.3% in the first quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock valued at $11,434,000 after buying an additional 12,720 shares during the period. Vanguard Group Inc. boosted its holdings in shares of First American Financial by 4.3% in the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after buying an additional 431,089 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of First American Financial by 9.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock valued at $81,836,000 after buying an additional 111,197 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of First American Financial in the fourth quarter valued at approximately $1,969,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Trading Up 0.2 %

NYSE FAF traded up $0.11 during mid-day trading on Monday, hitting $59.87. The company’s stock had a trading volume of 1,126,772 shares, compared to its average volume of 648,415. The company’s 50 day simple moving average is $54.92 and its 200 day simple moving average is $56.87. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $65.54. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 28.65 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the firm earned $1.35 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, research analysts forecast that First American Financial Co. will post 3.88 EPS for the current year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s payout ratio is currently 101.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FAF. Stephens reissued an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a research report on Thursday. Truist Financial boosted their price objective 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. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Barclays dropped their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $65.25.

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.