Legal & General Group Plc Grows Stock Position in First American Financial Corporation $FAF

Legal & General Group Plc increased its holdings in First American Financial Corporation (NYSE:FAF) by 1.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 226,279 shares of the insurance provider’s stock after acquiring an additional 2,318 shares during the quarter. Legal & General Group Plc’s holdings in First American Financial were worth $13,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new stake in First American Financial during the second quarter valued at approximately $36,000. Ameritas Advisory Services LLC bought a new stake in shares of First American Financial during the 2nd quarter valued at $48,000. Ransom Advisory Ltd bought a new stake in shares of First American Financial during the 1st quarter valued at $66,000. Jones Financial Companies Lllp increased its stake in shares of First American Financial by 121.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 813 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in First American Financial by 24.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,683 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 327 shares during the period. 89.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

First American Financial Trading Down 0.4%

Shares of FAF opened at $65.76 on Friday. The business’s 50 day moving average is $62.84 and its 200 day moving average is $61.70. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $70.92. The company 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 posted its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.28. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 40.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 EPS. Equities research analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

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

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.