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

Choreo LLC bought a new stake in First American Financial Co. (NYSE:FAF) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 6,145 shares of the insurance provider’s stock, valued at approximately $382,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FAF. Victory Capital Management Inc. grew its position in First American Financial by 19.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock valued at $164,746,000 after purchasing an additional 405,146 shares during the period. Geode Capital Management LLC increased its position in shares of First American Financial by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider’s stock worth $112,306,000 after acquiring an additional 12,668 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of First American Financial by 4.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,493,111 shares of the insurance provider’s stock worth $98,560,000 after acquiring an additional 66,290 shares during the last quarter. Wellington Management Group LLP bought a new position in First American Financial in the 3rd quarter valued at about $95,638,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in First American Financial by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,118,145 shares of the insurance provider’s stock valued at $73,809,000 after purchasing an additional 8,315 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Performance

Shares of FAF opened at $62.61 on Thursday. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92. The business has a 50-day moving average of $62.95 and a 200 day moving average of $63.90. The firm has a market cap of $6.45 billion, a P/E ratio of 70.35 and a beta of 1.33.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. As a group, research analysts predict that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, March 10th. First American Financial’s payout ratio is 242.70%.

Analyst Ratings Changes

Several brokerages recently issued reports on FAF. Keefe, Bruyette & Woods decreased their price target on First American Financial from $80.00 to $74.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Barclays increased their target price on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Truist Financial boosted their price target on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Stephens increased their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.