Garner Asset Management Corp Trims Stake in First American Financial Corporation $FAF

Garner Asset Management Corp reduced its stake in First American Financial Corporation (NYSE:FAF) by 15.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,036 shares of the insurance provider’s stock after selling 2,690 shares during the period. Garner Asset Management Corp’s holdings in First American Financial were worth $923,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new position in shares of First American Financial during the 2nd quarter worth approximately $36,000. Ameritas Advisory Services LLC bought a new stake in shares of First American Financial during the second quarter valued at approximately $48,000. Ransom Advisory Ltd purchased a new stake in First American Financial in the first quarter worth $66,000. Jones Financial Companies Lllp grew its stake in First American Financial by 121.3% in the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 813 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in First American Financial by 24.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,683 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 327 shares in the last quarter. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Performance

Shares of First American Financial stock opened at $66.07 on Thursday. The company has a 50-day simple moving average of $62.87 and a two-hundred day simple moving average of $61.62. The stock has a market capitalization of $6.73 billion, a PE ratio of 14.21 and a beta of 1.24. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $70.92.

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

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is presently 47.31%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stephens started coverage on First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Truist Financial boosted their price objective on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Barclays raised their target price on shares of First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Finally, Weiss Ratings upgraded shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, First American Financial presently has an average rating of “Hold” and an average target price of $76.00.

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.