Y Intercept Hong Kong Ltd Decreases Stock Holdings in First American Financial Corporation $FAF

Y Intercept Hong Kong Ltd cut its holdings in shares of First American Financial Corporation (NYSE:FAF) by 37.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,665 shares of the insurance provider’s stock after selling 14,337 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in First American Financial were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FAF. SJS Investment Consulting Inc. increased its position in First American Financial by 2,887.5% in the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after buying an additional 462 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of First American Financial in the second quarter valued at approximately $35,000. First Horizon Corp bought a new position in First American Financial in the 3rd quarter valued at $37,000. Atlantic Union Bankshares Corp bought a new stake in First American Financial during the second quarter valued at $36,000. Finally, Tripletail Wealth Management LLC bought a new stake in shares of First American Financial during the 3rd quarter valued at about $41,000. 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 $63.21 on Friday. The company has a market cap of $6.44 billion, a P/E ratio of 13.59, a PEG ratio of 0.68 and a beta of 1.27. The stock’s fifty day moving average price is $62.95 and its 200-day moving average price is $62.98. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $68.64.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. First American Financial’s payout ratio is currently 47.31%.

Analyst Upgrades and Downgrades

FAF has been the subject of several research analyst reports. Truist Financial lifted their price target on First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Stephens initiated coverage on shares of First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating on the stock. Finally, Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.75.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.