Formidable Asset Management LLC Acquires Shares of 5,319 First American Financial Co. (NYSE:FAF)

Formidable Asset Management LLC purchased a new position in shares of First American Financial Co. (NYSE:FAF) during the third quarter, Holdings Channel.com reports. The fund purchased 5,319 shares of the insurance provider’s stock, valued at approximately $357,000.

Several other institutional investors also recently made changes to their positions in FAF. Creative Planning boosted its stake in First American Financial by 5.1% during the 3rd quarter. Creative Planning now owns 6,026 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 295 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of First American Financial by 20.3% in the third quarter. Teacher Retirement System of Texas now owns 17,702 shares of the insurance provider’s stock worth $1,187,000 after buying an additional 2,988 shares during the period. Inspire Investing LLC acquired a new stake in shares of First American Financial in the third quarter worth $233,000. Oxler Private Wealth LLC boosted its position in shares of First American Financial by 28.2% in the third quarter. Oxler Private Wealth LLC now owns 9,100 shares of the insurance provider’s stock worth $744,000 after buying an additional 2,000 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of First American Financial by 6.9% in the third quarter. CIBC Asset Management Inc now owns 4,395 shares of the insurance provider’s stock worth $295,000 after buying an additional 283 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

FAF stock opened at $79.54 on Friday. The company has a 50 day moving average price of $76.69 and a 200 day moving average price of $71.18. First American Financial Co. has a fifty-two week low of $48.69 and a fifty-two week high of $81.54. The stock has a market capitalization of $8.73 billion, a PE ratio of 7.03 and a beta of 1.21.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 20th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.29. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.04 billion. First American Financial had a net margin of 14.02% and a return on equity of 17.25%. The firm’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. On average, equities research analysts anticipate that First American Financial Co. will post 7.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 8th were given a dividend of $0.51 per share. The ex-dividend date was Tuesday, December 7th. This represents a $2.04 annualized dividend and a yield of 2.56%. First American Financial’s dividend payout ratio (DPR) is presently 18.04%.

Several brokerages have recently commented on FAF. Truist Securities raised their target price on First American Financial from $84.00 to $92.00 in a research report on Thursday. Cantor Fitzgerald decreased their target price on First American Financial from $13.00 to $10.40 and set an “overweight” rating for the company in a research report on Wednesday, December 15th. Finally, Truist increased their price objective on First American Financial from $84.00 to $92.00 in a report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $69.93.

In related news, President Kenneth D. Degiorgio sold 15,739 shares of the stock in a transaction that occurred on Friday, October 22nd. The shares were sold at an average price of $74.71, for a total transaction of $1,175,860.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Kenneth D. Degiorgio sold 10,400 shares of the stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $74.50, for a total transaction of $774,800.00. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

About First American Financial

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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