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

EntryPoint Capital LLC purchased a new stake in shares of First American Financial Co. (NYSE:FAF) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 1,484 shares of the insurance provider’s stock, valued at approximately $91,000.

Other institutional investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in First American Financial in the first quarter valued at about $158,000. CANADA LIFE ASSURANCE Co boosted its holdings in First American Financial by 1.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 97,818 shares of the insurance provider’s stock worth $5,968,000 after acquiring an additional 1,782 shares in the last quarter. Bessemer Group Inc. boosted its holdings in First American Financial by 4.9% in the first quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock worth $304,000 after acquiring an additional 234 shares in the last quarter. Seven Eight Capital LP acquired a new stake in First American Financial in the first quarter worth about $2,634,000. Finally, Covestor Ltd boosted its holdings in First American Financial by 557.2% in the first quarter. Covestor Ltd now owns 1,091 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of First American Financial stock traded up $1.00 during trading hours on Friday, hitting $59.04. The company’s stock had a trading volume of 351,680 shares, compared to its average volume of 639,273. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $65.54. The firm has a fifty day moving average of $54.87 and a 200-day moving average of $56.96. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 28.23 and a beta of 1.28.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.14. First American Financial had a return on equity of 8.02% and a net margin of 3.28%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company earned $1.35 EPS. First American Financial’s revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts expect that First American Financial Co. will post 3.83 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.12 annualized dividend and a yield of 3.59%. First American Financial’s dividend payout ratio (DPR) is 101.44%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FAF shares. Truist Financial raised their price target on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. Keefe, Bruyette & Woods lowered their price target on First American Financial from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Barclays lowered their price target on First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Finally, Stephens reissued an “overweight” rating and issued a $66.00 price target on shares of First American Financial in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.50.

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.