Bayesian Capital Management LP Takes $1.48 Million Position in First American Financial Co. (NYSE:FAF)

Bayesian Capital Management LP bought a new position in shares of First American Financial Co. (NYSE:FAF) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,255 shares of the insurance provider’s stock, valued at approximately $1,481,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of First American Financial by 4.3% in the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after acquiring an additional 431,089 shares during the last quarter. Boston Partners grew its stake in shares of First American Financial by 13.4% during the 4th quarter. Boston Partners now owns 3,594,563 shares of the insurance provider’s stock valued at $231,608,000 after buying an additional 425,243 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First American Financial by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,059,361 shares of the insurance provider’s stock valued at $197,148,000 after buying an additional 94,854 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of First American Financial by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,680,947 shares of the insurance provider’s stock worth $172,760,000 after buying an additional 9,491 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of First American Financial by 9.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock worth $81,836,000 after buying an additional 111,197 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Trading Up 0.2 %

FAF stock traded up $0.14 during trading on Tuesday, reaching $59.99. The stock had a trading volume of 447,164 shares, compared to its average volume of 647,027. The firm has a fifty day moving average price of $54.92 and a 200 day moving average price of $56.87. The company has a market capitalization of $6.22 billion, a P/E ratio of 28.73 and a beta of 1.28. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $65.54.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. First American Financial’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 EPS. Sell-side analysts predict that First American Financial Co. will post 3.88 EPS for the current year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s dividend payout ratio (DPR) is presently 101.44%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stephens restated an “overweight” rating and set a $66.00 price target on shares of First American Financial in a research note on Thursday, July 25th. Keefe, Bruyette & Woods raised their price target on shares of First American Financial from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday. Truist Financial lifted their price target on shares of First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays dropped their price objective 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, First American Financial currently has a consensus rating of “Moderate Buy” and an average price target of $65.25.

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.