Eqis Capital Management Inc. trimmed its stake in shares of First American Financial Co. (NYSE:FAF) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,801 shares of the insurance provider’s stock after selling 422 shares during the quarter. Eqis Capital Management Inc.’s holdings in First American Financial were worth $397,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in FAF. Glassman Wealth Services acquired a new position in First American Financial during the 2nd quarter worth approximately $30,000. Parkside Financial Bank & Trust acquired a new position in First American Financial in the 2nd quarter valued at approximately $30,000. Ninety One SA PTY Ltd increased its position in First American Financial by 54.3% in the 2nd quarter. Ninety One SA PTY Ltd now owns 699 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 246 shares during the period. NEXT Financial Group Inc acquired a new position in First American Financial in the 3rd quarter valued at approximately $33,000. Finally, Captrust Financial Advisors acquired a new position in First American Financial in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.38% of the company’s stock.
Separately, Barclays upped their price target on shares of First American Financial from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.17.
NYSE:FAF opened at $50.66 on Friday. The firm’s fifty day moving average is $49.79 and its 200-day moving average is $50.36. First American Financial Co. has a 52 week low of $29.36 and a 52 week high of $66.78. The firm has a market cap of $5.66 billion, a P/E ratio of 8.95 and a beta of 1.16.
First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, October 22nd. The insurance provider reported $1.31 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.04). First American Financial had a net margin of 9.61% and a return on equity of 13.06%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that First American Financial Co. will post 5.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be paid a $0.46 dividend. This is a positive change from First American Financial’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, December 7th. First American Financial’s dividend payout ratio is currently 30.56%.
First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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