Oppenheimer Asset Management Inc. Boosts Stock Position in First American Financial Corporation $FAF

Oppenheimer Asset Management Inc. raised its position in First American Financial Corporation (NYSE:FAF) by 33.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,721 shares of the insurance provider’s stock after acquiring an additional 7,775 shares during the period. Oppenheimer Asset Management Inc.’s holdings in First American Financial were worth $1,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in FAF. Optimize Financial Inc purchased a new position in shares of First American Financial in the third quarter worth about $432,000. Hantz Financial Services Inc. increased its holdings in First American Financial by 223.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the insurance provider’s stock worth $58,000 after buying an additional 621 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in First American Financial during the 3rd quarter worth approximately $275,000. Allianz Asset Management GmbH lifted its stake in First American Financial by 10.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 210,739 shares of the insurance provider’s stock valued at $13,538,000 after acquiring an additional 20,188 shares during the period. Finally, State of Wyoming boosted its holdings in shares of First American Financial by 768.1% in the 3rd quarter. State of Wyoming now owns 3,533 shares of the insurance provider’s stock valued at $227,000 after acquiring an additional 3,126 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Stock Up 2.7%

FAF opened at $66.09 on Friday. The firm’s fifty day simple moving average is $63.00 and its two-hundred day simple moving average is $63.51. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $68.75. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.68 and a beta of 1.27.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.50. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a net margin of 8.34% and a return on equity of 12.12%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 earnings per share. On average, research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is 47.31%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FAF. Stephens began coverage on First American Financial in a report on Friday, November 14th. They issued an “equal weight” rating for the company. Barclays cut their target price on shares of First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Truist Financial upped their price objective on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.75.

First American Financial 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.