Harbor Capital Advisors Inc. Has $5.42 Million Stock Position in First American Financial Co. (NYSE:FAF)

Harbor Capital Advisors Inc. increased its stake in shares of First American Financial Co. (NYSE:FAF) by 94.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,156 shares of the insurance provider’s stock after acquiring an additional 39,924 shares during the period. Harbor Capital Advisors Inc. owned about 0.08% of First American Financial worth $5,423,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of First American Financial by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after buying an additional 515,710 shares during the last quarter. Boston Partners grew its position in shares of First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock valued at $248,237,000 after acquiring an additional 479,618 shares during the period. Vanguard Group Inc. increased its stake in shares of First American Financial by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after purchasing an additional 431,089 shares during the last quarter. Reinhart Partners LLC. raised its holdings in shares of First American Financial by 65.8% in the 2nd quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock valued at $50,916,000 after purchasing an additional 374,662 shares during the period. Finally, AQR Capital Management LLC lifted its stake in First American Financial by 245.1% in the 2nd quarter. AQR Capital Management LLC now owns 419,995 shares of the insurance provider’s stock valued at $22,659,000 after purchasing an additional 298,302 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

First American Financial Price Performance

FAF opened at $62.78 on Monday. The business has a fifty day simple moving average of $64.86 and a 200 day simple moving average of $59.37. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $67.88. The company has a market capitalization of $6.47 billion, a PE ratio of 70.54 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. First American Financial’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts anticipate that First American Financial Co. will post 3.94 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, September 20th. First American Financial’s payout ratio is presently 242.70%.

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.