Primoris Wealth Advisors LLC Invests $1.58 Million in First American Financial Co. (NYSE:FAF)

Primoris Wealth Advisors LLC bought a new stake in First American Financial Co. (NYSE:FAF) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,000 shares of the insurance provider’s stock, valued at approximately $1,584,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of First American Financial in the 3rd quarter valued at about $87,000. 1834 Investment Advisors Co. boosted its holdings in First American Financial by 1.5% in the third quarter. 1834 Investment Advisors Co. now owns 29,604 shares of the insurance provider’s stock valued at $1,954,000 after purchasing an additional 425 shares in the last quarter. QRG Capital Management Inc. raised its holdings in First American Financial by 7.0% during the third quarter. QRG Capital Management Inc. now owns 33,864 shares of the insurance provider’s stock worth $2,235,000 after purchasing an additional 2,226 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of First American Financial by 94.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 82,156 shares of the insurance provider’s stock valued at $5,423,000 after buying an additional 39,924 shares in the last quarter. Finally, Stephenson & Company Inc. purchased a new position in shares of First American Financial in the 3rd quarter valued at $227,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FAF shares. Stephens boosted their price target on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their target price on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Truist Financial raised their price target on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.50.

First American Financial Trading Up 2.8 %

Shares of FAF traded up $1.74 during mid-day trading on Friday, hitting $64.23. 590,117 shares of the company’s stock were exchanged, compared to its average volume of 702,144. The firm has a market capitalization of $6.62 billion, a P/E ratio of 72.19 and a beta of 1.29. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $67.88. The business’s 50 day moving average is $64.82 and its two-hundred day moving average is $59.56.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $1.22 EPS. The company’s revenue was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that First American Financial Co. will post 3.99 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.54 per share. The ex-dividend date is Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.36%. First American Financial’s payout ratio is currently 242.70%.

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.