AlphaQuest LLC Has $640,000 Position in First American Financial Corporation $FAF

AlphaQuest LLC cut its holdings in shares of First American Financial Corporation (NYSE:FAF) by 61.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,969 shares of the insurance provider’s stock after selling 15,907 shares during the period. AlphaQuest LLC’s holdings in First American Financial were worth $640,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. increased its position in First American Financial by 2,887.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 462 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of First American Financial in the second quarter worth $35,000. Atlantic Union Bankshares Corp acquired a new stake in First American Financial in the second quarter valued at $36,000. First Horizon Corp bought a new position in First American Financial during the 3rd quarter worth $37,000. Finally, Tripletail Wealth Management LLC acquired a new position in First American Financial during the 3rd quarter worth about $41,000. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Performance

First American Financial stock opened at $65.43 on Thursday. The stock’s 50 day moving average price is $62.91 and its two-hundred day moving average price is $63.22. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.69 and a beta of 1.27. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $68.64.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is presently 47.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FAF shares. Barclays decreased their price target on First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 6th. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Stephens assumed coverage on shares of First American Financial in a report on Friday, November 14th. They set an “equal weight” rating for the company. Keefe, Bruyette & Woods upped their price objective on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and an average target price 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.