Brookstone Capital Management Increases Stock Position in First American Financial Co. (NYSE:FAF)

Brookstone Capital Management lifted its holdings in shares of First American Financial Co. (NYSE:FAFGet Rating) by 34.0% during the second quarter, HoldingsChannel.com reports. The fund owned 13,630 shares of the insurance provider’s stock after purchasing an additional 3,456 shares during the quarter. Brookstone Capital Management’s holdings in First American Financial were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Versor Investments LP grew its position in shares of First American Financial by 9.2% during the first quarter. Versor Investments LP now owns 8,732 shares of the insurance provider’s stock worth $566,000 after acquiring an additional 732 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of First American Financial by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 39,219 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 618 shares during the period. Profund Advisors LLC lifted its holdings in shares of First American Financial by 9.6% during the first quarter. Profund Advisors LLC now owns 6,148 shares of the insurance provider’s stock worth $399,000 after purchasing an additional 537 shares during the period. Sciencast Management LP acquired a new stake in shares of First American Financial during the first quarter worth $219,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of First American Financial during the first quarter worth $930,000. 87.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FAF. Truist Financial decreased their price target on First American Financial from $86.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Barclays reduced their target price on First American Financial from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Finally, BTIG Research reduced their target price on First American Financial from $81.00 to $79.00 and set a “buy” rating for the company in a report on Friday, July 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.68.

First American Financial Stock Down 3.3 %

NYSE:FAF opened at $47.74 on Friday. The company has a market capitalization of $4.97 billion, a PE ratio of 5.81 and a beta of 1.22. First American Financial Co. has a 52-week low of $47.20 and a 52-week high of $81.54. The stock has a fifty day simple moving average of $55.01 and a 200-day simple moving average of $57.97.

First American Financial (NYSE:FAFGet Rating) last released its quarterly earnings results on Thursday, July 28th. The insurance provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.61. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.12 billion. First American Financial had a return on equity of 15.41% and a net margin of 10.11%. The business’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 EPS. As a group, equities analysts anticipate that First American Financial Co. will post 6.38 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Wednesday, September 7th. This is an increase from First American Financial’s previous quarterly dividend of $0.51. First American Financial’s payout ratio is 25.30%.

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.

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

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