Oak Thistle LLC Makes New $1.48 Million Investment in First American Financial Co. (NYSE:FAF)

Oak Thistle LLC purchased a new position in First American Financial Co. (NYSE:FAF) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,646 shares of the insurance provider’s stock, valued at approximately $1,476,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FAF. Dimensional Fund Advisors LP raised its stake in First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after acquiring an additional 515,710 shares during the period. Ariel Investments LLC boosted its stake in First American Financial by 2.8% during the second quarter. Ariel Investments LLC now owns 3,609,697 shares of the insurance provider’s stock valued at $194,743,000 after buying an additional 97,158 shares during the last quarter. Victory Capital Management Inc. grew its holdings in First American Financial by 19.4% during 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 buying an additional 405,146 shares in the last quarter. Geode Capital Management LLC increased its stake in First American Financial by 0.8% in the 3rd 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 during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of First American Financial by 4.6% during 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 in the last quarter. 89.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

First American Financial Stock Up 2.2 %

NYSE:FAF opened at $59.51 on Wednesday. The company has a fifty day simple moving average of $64.63 and a two-hundred day simple moving average of $62.93. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 66.87 and a beta of 1.33.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. On average, analysts expect that First American Financial Co. will post 4.07 EPS for the current year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.63%. First American Financial’s payout ratio is currently 242.70%.

About First American Financial

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.