First American Financial Corporation $FAF Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its position in First American Financial Corporation (NYSE:FAF) by 74.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,785 shares of the insurance provider’s stock after purchasing an additional 11,821 shares during the period. SG Americas Securities LLC’s holdings in First American Financial were worth $1,785,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. grew its holdings in First American Financial by 2,887.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after buying an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in First American Financial during the 2nd quarter worth $35,000. Atlantic Union Bankshares Corp bought a new position in shares of First American Financial in the second quarter worth $36,000. Tripletail Wealth Management LLC acquired a new position in shares of First American Financial during the third quarter valued at $41,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of First American Financial during the second quarter valued at $48,000. Institutional investors own 89.05% of the company’s stock.

First American Financial Stock Down 0.7%

Shares of NYSE FAF opened at $58.97 on Thursday. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $68.64. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 12.68 and a beta of 1.27. The stock’s fifty day simple moving average is $62.95 and its 200 day simple moving average is $62.79.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.28. The firm 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%.First American Financial’s revenue was up 40.7% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. As a group, analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, December 8th. First American Financial’s dividend payout ratio is 47.31%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Truist Financial lifted their price target on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Stephens assumed coverage on First American Financial in a research note on Friday, November 14th. They issued an “equal weight” rating on the stock. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.75.

About First American Financial

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.