Great West Life Assurance Co. Can Makes New $3.69 Million Investment in First American Financial Co. (NYSE:FAF)

Great West Life Assurance Co. Can purchased a new position in shares of First American Financial Co. (NYSE:FAFGet Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 80,034 shares of the insurance provider’s stock, valued at approximately $3,693,000.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in First American Financial by 69.0% during the third quarter. Fifth Third Bancorp now owns 583 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in First American Financial during the second quarter worth $36,000. Brown Brothers Harriman & Co. purchased a new position in First American Financial during the first quarter worth $46,000. TCI Wealth Advisors Inc. increased its position in First American Financial by 72.1% during the second quarter. TCI Wealth Advisors Inc. now owns 704 shares of the insurance provider’s stock worth $37,000 after buying an additional 295 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of First American Financial in the second quarter valued at $50,000. Hedge funds and other institutional investors own 84.45% of the company’s stock.

Analysts Set New Price Targets

FAF has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on First American Financial in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet downgraded First American Financial from a “b-” rating to a “c+” rating in a research report on Friday, September 30th. Barclays lifted their price objective on First American Financial from $64.00 to $67.00 in a research report on Friday, January 6th. Truist Financial lowered their price objective on First American Financial from $77.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 17th. Finally, Keefe, Bruyette & Woods downgraded First American Financial from an “outperform” rating to a “market perform” rating and set a $61.00 price objective for the company. in a research report on Wednesday, December 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.60.

First American Financial Trading Up 0.6 %

Shares of First American Financial stock opened at $61.02 on Tuesday. First American Financial Co. has a twelve month low of $43.54 and a twelve month high of $77.00. The stock has a market capitalization of $6.32 billion, a P/E ratio of 14.39 and a beta of 1.21. The business’s fifty day moving average price is $54.36 and its 200 day moving average price is $52.94.

First American Financial (NYSE:FAFGet Rating) last issued its earnings results on Thursday, October 27th. The insurance provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.12. First American Financial had a return on equity of 14.89% and a net margin of 5.66%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, sell-side analysts predict that First American Financial Co. will post 6.22 EPS for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, March 7th. First American Financial’s dividend payout ratio is presently 49.06%.

About First American Financial

(Get Rating)

First American Financial Corp. engages in the provision of title insurance and settlement services to the real estate and mortgage industries. It also provides other financial services and risk solutions. It operates through the following segments: Title Insurance and Services, Specialty Insurance, and Corporate.

Further Reading

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

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