Hudson Bay Capital Management LP Decreases Stock Holdings in First American Financial Corporation $FAF

Hudson Bay Capital Management LP lessened its holdings in First American Financial Corporation (NYSE:FAF) by 41.7% during the second quarter, HoldingsChannel.com reports. The fund owned 134,615 shares of the insurance provider’s stock after selling 96,281 shares during the quarter. Hudson Bay Capital Management LP’s holdings in First American Financial were worth $8,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC boosted its holdings in First American Financial by 3.9% in the 2nd quarter. ProShare Advisors LLC now owns 4,561 shares of the insurance provider’s stock worth $280,000 after acquiring an additional 172 shares during the period. Treasurer of the State of North Carolina lifted its holdings in First American Financial by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 45,932 shares of the insurance provider’s stock worth $2,820,000 after acquiring an additional 220 shares during the last quarter. American Century Companies Inc. boosted its position in First American Financial by 0.5% during the 1st quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 229 shares during the period. Knightsbridge Asset Management LLC boosted its holdings in shares of First American Financial by 3.7% during the first quarter. Knightsbridge Asset Management LLC now owns 7,778 shares of the insurance provider’s stock valued at $510,000 after acquiring an additional 281 shares during the period. Finally, HighTower Advisors LLC boosted its stake in First American Financial by 3.5% during the 1st quarter. HighTower Advisors LLC now owns 8,638 shares of the insurance provider’s stock valued at $567,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Trading Up 1.4%

NYSE:FAF opened at $64.83 on Tuesday. The firm’s fifty day simple moving average is $62.81 and its 200 day simple moving average is $62.27. The firm has a market capitalization of $6.61 billion, a PE ratio of 13.94 and a beta of 1.27. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $68.64.

First American Financial (NYSE:FAF) last posted its quarterly earnings data 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. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The firm’s revenue was up 40.7% compared to the same quarter last year. As a group, analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a dividend of $0.55 per share. The ex-dividend date was Monday, December 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. First American Financial’s payout ratio is presently 47.31%.

Wall Street Analyst Weigh In

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

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.