HG Vora Capital Management LLC Sells 1,275,000 Shares of First American Financial Co. (NYSE:FAF)

HG Vora Capital Management LLC trimmed its position in First American Financial Co. (NYSE:FAF) by 25.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,800,000 shares of the insurance provider’s stock after selling 1,275,000 shares during the period. First American Financial makes up approximately 18.4% of HG Vora Capital Management LLC’s portfolio, making the stock its 2nd largest holding. HG Vora Capital Management LLC’s holdings in First American Financial were worth $250,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in FAF. Tidal Investments LLC bought a new position in First American Financial during the 1st quarter worth $812,000. Comerica Bank lifted its position in shares of First American Financial by 3.9% during the 1st quarter. Comerica Bank now owns 51,634 shares of the insurance provider’s stock worth $3,152,000 after buying an additional 1,938 shares during the period. Cetera Advisors LLC acquired a new stake in First American Financial during the 1st quarter valued at $457,000. GAMMA Investing LLC grew its stake in shares of First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 257 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of First American Financial by 99.1% in the second 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. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays increased their price target on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Stephens lifted 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 note on Friday, October 25th. Keefe, Bruyette & Woods upped their price target on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Truist Financial lifted their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Trading Up 0.5 %

Shares of First American Financial stock opened at $70.49 on Tuesday. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 79.20 and a beta of 1.30. First American Financial Co. has a 12-month low of $51.60 and a 12-month high of $70.92. The company has a fifty day simple moving average of $65.39 and a 200-day simple moving average of $60.95.

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

First American Financial Announces Dividend

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

First American Financial Profile

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.