First American Financial Co. (NYSE:FAF) Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its stake in First American Financial Co. (NYSE:FAF) by 34.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 27,368 shares of the insurance provider’s stock after acquiring an additional 6,965 shares during the period. Gabelli Funds LLC’s holdings in First American Financial were worth $1,671,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. acquired a new position in First American Financial in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC boosted its stake in shares of First American Financial by 82.3% during the 1st quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 228 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of First American Financial during the fourth quarter worth about $33,000. Headlands Technologies LLC acquired a new position in shares of First American Financial in the fourth quarter valued at approximately $44,000. Finally, Principal Securities Inc. purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

FAF traded up $1.72 on Friday, reaching $59.76. 1,067,958 shares of the company’s stock were exchanged, compared to its average volume of 625,162. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 28.59 and a beta of 1.28. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $65.54. The company’s 50 day moving average is $54.92 and its 200-day moving average is $56.94.

First American Financial (NYSE:FAF) last released its quarterly earnings data 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. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 earnings per share. Sell-side analysts forecast that First American Financial Co. will post 3.88 EPS for the current year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, June 10th. First American Financial’s dividend payout ratio (DPR) is presently 101.44%.

Wall Street Analyst Weigh In

FAF has been the subject of several analyst reports. Stephens reiterated an “overweight” rating and issued a $66.00 target price on shares of First American Financial in a research note on Thursday. Barclays dropped their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on shares of First American Financial from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Truist Financial upped their price objective on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently 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.