ARGA Investment Management LP Has $16.45 Million Stock Position in First American Financial Co. (NYSE:FAF)

ARGA Investment Management LP increased its position in shares of First American Financial Co. (NYSE:FAF) by 1,801.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 249,174 shares of the insurance provider’s stock after acquiring an additional 236,071 shares during the quarter. First American Financial comprises about 0.5% of ARGA Investment Management LP’s investment portfolio, making the stock its 26th largest position. ARGA Investment Management LP’s holdings in First American Financial were worth $16,448,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FAF. Vaughan Nelson Investment Management L.P. boosted its stake in shares of First American Financial by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock valued at $76,977,000 after purchasing an additional 86,330 shares during the last quarter. SG Americas Securities LLC acquired a new stake in First American Financial during the 2nd quarter worth $1,191,000. Tidal Investments LLC bought a new stake in shares of First American Financial during the 1st quarter valued at $812,000. Envestnet Asset Management Inc. lifted its stake in shares of First American Financial by 5.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock valued at $8,067,000 after purchasing an additional 7,885 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of First American Financial in the 2nd quarter valued at $243,000. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FAF shares. Stephens lifted their price objective on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial boosted their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays increased their price target on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and an average target price of $72.50.

First American Financial Trading Down 0.7 %

NYSE:FAF opened at $70.15 on Friday. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $70.92. The stock has a 50-day moving average price of $65.28 and a two-hundred day moving average price of $60.83. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 78.82 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.19. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. First American Financial’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. Sell-side analysts forecast that First American Financial Co. will post 4.07 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio is 242.70%.

First American Financial 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.