Loomis Sayles & Co. L P Has $17.19 Million Holdings in First American Financial Corporation $FAF

Loomis Sayles & Co. L P grew its position in First American Financial Corporation (NYSE:FAF) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,038 shares of the insurance provider’s stock after acquiring an additional 10,623 shares during the quarter. Loomis Sayles & Co. L P owned 0.28% of First American Financial worth $17,192,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FAF. Cetera Investment Advisers grew its position in First American Financial by 137.8% during the 1st quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock worth $1,384,000 after acquiring an additional 12,222 shares during the last quarter. Mackenzie Financial Corp acquired a new position in First American Financial during the 1st quarter worth approximately $209,000. Blueshift Asset Management LLC bought a new position in First American Financial in the first quarter valued at $344,000. PNC Financial Services Group Inc. raised its stake in shares of First American Financial by 10.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,273 shares of the insurance provider’s stock worth $280,000 after purchasing an additional 420 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in First American Financial by 44.2% in the 1st quarter. Bank of Nova Scotia now owns 35,011 shares of the insurance provider’s stock valued at $2,298,000 after purchasing an additional 10,738 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Trading Down 0.4%

Shares of NYSE FAF opened at $65.76 on Monday. The firm has a fifty day simple moving average of $62.84 and a two-hundred day simple moving average of $61.71. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $70.92. The firm has a market capitalization of $6.70 billion, a PE ratio of 14.14 and a beta of 1.24.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.28. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The firm’s quarterly revenue was up 40.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 EPS. On average, sell-side analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, December 8th. First American Financial’s dividend payout ratio is currently 47.31%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FAF. Barclays upped their target price on First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Stephens initiated coverage on shares of First American Financial in a research report on Friday, November 14th. They issued an “equal weight” rating for the company. Truist Financial raised their price target on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings upgraded First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, First American Financial presently has a consensus rating of “Hold” and an average price target of $76.00.

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.