Y Intercept Hong Kong Ltd Sells 5,862 Shares of First American Financial Co. (NYSE:FAF)

Y Intercept Hong Kong Ltd lessened its holdings in shares of First American Financial Co. (NYSE:FAF) by 44.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,347 shares of the insurance provider’s stock after selling 5,862 shares during the period. Y Intercept Hong Kong Ltd’s holdings in First American Financial were worth $485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. MML Investors Services LLC lifted its stake in First American Financial by 10.0% in the third quarter. MML Investors Services LLC now owns 6,806 shares of the insurance provider’s stock valued at $449,000 after buying an additional 617 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in First American Financial by 6.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,089 shares of the insurance provider’s stock valued at $1,854,000 after acquiring an additional 1,691 shares in the last quarter. EP Wealth Advisors LLC lifted its position in First American Financial by 12.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 41,211 shares of the insurance provider’s stock valued at $2,720,000 after acquiring an additional 4,705 shares in the last quarter. Wellington Management Group LLP acquired a new position in First American Financial in the 3rd quarter worth $95,638,000. Finally, Worldquant Millennium Advisors LLC bought a new position in First American Financial during the 3rd quarter worth about $205,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Stock Up 0.2 %

Shares of First American Financial stock opened at $65.63 on Monday. First American Financial Co. has a 12-month low of $51.60 and a 12-month high of $70.92. The business’s 50 day moving average is $65.77 and its 200-day moving average is $61.69. The stock has a market cap of $6.76 billion, a P/E ratio of 73.74 and a beta of 1.30.

First American Financial (NYSE:FAF) last released 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 company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $1.22 EPS. First American Financial’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, sell-side analysts expect that First American Financial Co. will post 4.07 EPS for the current year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.54 per share. The ex-dividend date is Monday, December 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.29%. First American Financial’s dividend payout ratio is currently 242.70%.

Analyst Ratings Changes

A number of analysts have recently commented on FAF shares. Barclays boosted their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Stephens boosted their target price on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $80.00 price target on shares of First American Financial in a research note on Tuesday, December 10th. Finally, Truist Financial boosted their price objective on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and a consensus price target of $74.50.

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.