Covestor Ltd Grows Position in First American Financial Co. (NYSE:FAF)

Covestor Ltd increased its holdings in First American Financial Co. (NYSE:FAF) by 557.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,091 shares of the insurance provider’s stock after acquiring an additional 925 shares during the quarter. Covestor Ltd’s holdings in First American Financial were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Verition Fund Management LLC increased its holdings in shares of First American Financial by 21.3% during the fourth quarter. Verition Fund Management LLC now owns 196,081 shares of the insurance provider’s stock valued at $12,635,000 after acquiring an additional 34,444 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in First American Financial by 7.3% in the 1st quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock worth $11,434,000 after buying an additional 12,720 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in First American Financial by 9.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock worth $81,836,000 after buying an additional 111,197 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in First American Financial in the 4th quarter worth about $1,969,000. Finally, Heartland Advisors Inc. increased its holdings in First American Financial by 11.0% in the 4th quarter. Heartland Advisors Inc. now owns 308,139 shares of the insurance provider’s stock worth $19,856,000 after buying an additional 30,579 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of NYSE:FAF opened at $57.20 on Thursday. The business’s 50-day moving average is $54.85 and its 200 day moving average is $56.95. First American Financial Co. has a 1 year low of $49.55 and a 1 year high of $65.54. The firm has a market capitalization of $5.93 billion, a P/E ratio of 27.37 and a beta of 1.28.

First American Financial (NYSE:FAF) last posted its earnings results 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 firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 8.17% and a net margin of 3.64%. First American Financial’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. On average, analysts expect that First American Financial Co. will post 3.83 EPS for the current year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.12 annualized dividend and a yield of 3.71%. First American Financial’s dividend payout ratio (DPR) is 101.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FAF shares. Keefe, Bruyette & Woods reduced their price objective on First American Financial from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Barclays dropped their target price on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.25.

First American Financial 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.