First American Financial Co. (NYSE:FAF) Shares Purchased by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC lifted its holdings in shares of First American Financial Co. (NYSE:FAF) by 56.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 798 shares of the insurance provider’s stock after purchasing an additional 288 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in First American Financial were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in First American Financial by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock valued at $630,000 after purchasing an additional 193 shares during the last quarter. Venturi Wealth Management LLC increased its stake in First American Financial by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock valued at $31,000 after buying an additional 228 shares during the period. Bessemer Group Inc. increased its stake in shares of First American Financial by 4.9% during the 1st quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock worth $304,000 after purchasing an additional 234 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of First American Financial by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 129,570 shares of the insurance provider’s stock worth $7,910,000 after purchasing an additional 341 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of First American Financial during the 4th quarter worth $26,000. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Stock Up 0.7 %

FAF traded up $0.44 during trading hours on Friday, hitting $60.70. The stock had a trading volume of 1,410,203 shares, compared to its average volume of 807,139. The company’s fifty day simple moving average is $55.33 and its 200 day simple moving average is $56.89. First American Financial Co. has a 1 year low of $49.55 and a 1 year high of $65.54. The stock has a market cap of $6.25 billion, a PE ratio of 29.04 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. First American Financial’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 earnings per share. As a group, equities analysts expect that First American Financial Co. will post 3.88 EPS for the current year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.53 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.12 annualized dividend and a yield of 3.49%. First American Financial’s payout ratio is currently 101.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FAF shares. Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stephens restated an “overweight” rating and set a $66.00 target price on shares of First American Financial in a report on Thursday, July 25th. Truist Financial upped their price objective on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Barclays decreased their target price on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.25.

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.