First American Financial Co. (NYSE:FAF) Shares Sold by HG Vora Capital Management LLC

HG Vora Capital Management LLC trimmed its position in First American Financial Co. (NYSE:FAF) by 25.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,800,000 shares of the insurance provider’s stock after selling 1,275,000 shares during the quarter. First American Financial makes up 18.4% of HG Vora Capital Management LLC’s portfolio, making the stock its 2nd biggest position. HG Vora Capital Management LLC owned 3.69% of First American Financial worth $250,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings in shares of First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC lifted its stake in First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 257 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 356 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in First American Financial in the 2nd quarter valued at approximately $47,000. Finally, Quarry LP lifted its stake in First American Financial by 340.8% in the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 668 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Trading Up 0.5 %

Shares of FAF stock opened at $70.49 on Tuesday. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 79.20 and a beta of 1.30. The business’s 50-day moving average price is $65.39 and its 200-day moving average price is $60.95.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts predict that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.54 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.16 annualized dividend and a yield of 3.06%. First American Financial’s dividend payout ratio is currently 242.70%.

Wall Street Analyst Weigh In

FAF has been the topic of several research reports. Barclays boosted their target price on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Stephens boosted their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Truist Financial increased their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.50.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.