Loomis Sayles & Co. L P Boosts Stock Holdings in First American Financial Co. (NYSE:FAF)

Loomis Sayles & Co. L P grew its holdings in First American Financial Co. (NYSE:FAF) by 14.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 648,019 shares of the insurance provider’s stock after acquiring an additional 82,240 shares during the period. Loomis Sayles & Co. L P owned 0.59% of First American Financial worth $36,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stephens Inc. AR raised its position in First American Financial by 3.3% in the first quarter. Stephens Inc. AR now owns 4,729 shares of the insurance provider’s stock worth $268,000 after acquiring an additional 151 shares during the period. Arizona State Retirement System raised its position in shares of First American Financial by 0.5% during the 1st quarter. Arizona State Retirement System now owns 32,500 shares of the insurance provider’s stock valued at $1,841,000 after purchasing an additional 159 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of First American Financial by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 32,948 shares of the insurance provider’s stock valued at $1,867,000 after purchasing an additional 166 shares during the period. Advisors Asset Management Inc. raised its position in shares of First American Financial by 72.8% during the 1st quarter. Advisors Asset Management Inc. now owns 451 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Finally, Virginia Retirement Systems ET AL raised its position in shares of First American Financial by 1.7% during the 4th quarter. Virginia Retirement Systems ET AL now owns 12,300 shares of the insurance provider’s stock valued at $635,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 86.00% of the company’s stock.

FAF has been the subject of a number of recent research reports. Zacks Investment Research cut shares of First American Financial from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research note on Tuesday, June 22nd. Truist Securities lifted their price target on shares of First American Financial from $66.00 to $72.00 in a research note on Thursday, April 15th. Barclays lifted their price objective on shares of First American Financial from $73.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, July 9th. Credit Suisse Group assumed coverage on shares of First American Financial in a report on Monday, May 3rd. They set an “outperform” rating and a $78.00 price objective for the company. Finally, Truist Financial lifted their price objective on shares of First American Financial from $66.00 to $72.00 in a report on Thursday, April 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.86.

FAF stock opened at $63.51 on Thursday. The company has a fifty day simple moving average of $63.82. First American Financial Co. has a 12 month low of $44.05 and a 12 month high of $66.92. The stock has a market cap of $6.97 billion, a P/E ratio of 10.32 and a beta of 1.19.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, April 21st. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.30. First American Financial had a net margin of 11.26% and a return on equity of 14.30%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year. On average, analysts predict that First American Financial Co. will post 6.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Tuesday, June 8th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Monday, June 7th. First American Financial’s dividend payout ratio (DPR) is presently 33.76%.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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