LRI Investments LLC Acquires Shares of 2,740 First American Financial Co. (NYSE:FAF)

LRI Investments LLC bought a new stake in First American Financial Co. (NYSE:FAF) in the 1st quarter, Holdings Channel reports. The institutional investor bought 2,740 shares of the insurance provider’s stock, valued at approximately $153,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First American Financial by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock worth $630,000 after acquiring an additional 193 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of First American Financial by 82.3% during the 1st quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 228 shares during the period. Bessemer Group Inc. lifted its holdings 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 acquiring an additional 234 shares during the period. Retirement Systems of Alabama lifted its holdings 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 acquiring an additional 341 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of First American Financial during the 4th quarter worth approximately $26,000. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FAF. Keefe, Bruyette & Woods cut their price target on shares of First American Financial from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Stephens reissued an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a research note on Thursday. Barclays dropped their price objective on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, Truist Financial increased their price objective on shares of First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and an average price target of $64.50.

First American Financial Trading Up 3.0 %

NYSE:FAF traded up $1.72 on Friday, hitting $59.76. The company had a trading volume of 1,067,958 shares, compared to its average volume of 625,162. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 28.59 and a beta of 1.28. The firm has a 50 day moving average of $54.92 and a two-hundred day moving average of $56.94. First American Financial Co. has a 52 week low of $49.55 and a 52 week high of $65.54.

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

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s dividend payout ratio is currently 101.44%.

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.