Magnetar Financial LLC Purchases 5,683 Shares of First American Financial Corporation $FAF

Magnetar Financial LLC boosted its position in First American Financial Corporation (NYSE:FAF) by 5.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 118,354 shares of the insurance provider’s stock after purchasing an additional 5,683 shares during the period. Magnetar Financial LLC owned about 0.12% of First American Financial worth $7,266,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Allianz Asset Management GmbH lifted its position in shares of First American Financial by 49.8% in the first quarter. Allianz Asset Management GmbH now owns 138,510 shares of the insurance provider’s stock valued at $9,090,000 after buying an additional 46,066 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in First American Financial in the 1st quarter valued at $968,000. Venturi Wealth Management LLC lifted its holdings in First American Financial by 34.6% during the 1st quarter. Venturi Wealth Management LLC now owns 3,490 shares of the insurance provider’s stock valued at $229,000 after purchasing an additional 898 shares during the last quarter. Cetera Investment Advisers lifted its holdings in First American Financial by 137.8% during the 1st quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock valued at $1,384,000 after purchasing an additional 12,222 shares during the last quarter. Finally, Stephenson & Company Inc. bought a new position in First American Financial during the first quarter worth $200,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FAF shares. Weiss Ratings raised shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Stephens initiated coverage on First American Financial in a report on Friday, November 14th. They set an “equal weight” rating for the company. Finally, Truist Financial upped their target price on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.00.

First American Financial Stock Up 3.0%

NYSE FAF opened at $64.57 on Friday. The firm has a 50-day moving average price of $62.93 and a two-hundred day moving average price of $61.51. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $70.92. The company has a market capitalization of $6.58 billion, a P/E ratio of 13.89 and a beta of 1.24.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.28. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The firm’s quarterly revenue was up 40.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 earnings per share. Equities analysts expect that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, December 8th. First American Financial’s dividend payout ratio is presently 47.31%.

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.