Great Lakes Advisors LLC increased its stake in shares of First American Financial Corp (NYSE:FAF) by 134.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,132 shares of the insurance provider’s stock after acquiring an additional 135,975 shares during the quarter. Great Lakes Advisors LLC owned about 0.21% of First American Financial worth $12,234,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Voya Investment Management LLC increased its position in First American Financial by 13.1% during the second quarter. Voya Investment Management LLC now owns 212,811 shares of the insurance provider’s stock worth $11,007,000 after acquiring an additional 24,579 shares during the period. Bank of New York Mellon Corp increased its position in First American Financial by 10.9% during the second quarter. Bank of New York Mellon Corp now owns 1,538,061 shares of the insurance provider’s stock worth $79,549,000 after acquiring an additional 150,835 shares during the period. Oakbrook Investments LLC increased its position in First American Financial by 33.2% during the third quarter. Oakbrook Investments LLC now owns 13,650 shares of the insurance provider’s stock worth $704,000 after acquiring an additional 3,400 shares during the period. Aperio Group LLC increased its position in First American Financial by 6.9% during the second quarter. Aperio Group LLC now owns 163,422 shares of the insurance provider’s stock worth $8,452,000 after acquiring an additional 10,521 shares during the period. Finally, First Midwest Bank Trust Division increased its position in First American Financial by 13.2% during the second quarter. First Midwest Bank Trust Division now owns 7,925 shares of the insurance provider’s stock worth $410,000 after acquiring an additional 922 shares during the period. 82.58% of the stock is currently owned by institutional investors and hedge funds.
FAF has been the topic of a number of research reports. ValuEngine lowered shares of First American Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Zacks Investment Research lowered shares of First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. First American Financial presently has an average rating of “Hold” and a consensus price target of $57.50.
First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.02). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. First American Financial had a net margin of 10.39% and a return on equity of 13.68%. On average, equities research analysts forecast that First American Financial Corp will post 4.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 7th. First American Financial’s dividend payout ratio (DPR) is presently 61.09%.
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About First American Financial
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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