Reinhart Partners LLC. Raises Stake in First American Financial Corporation $FAF

Reinhart Partners LLC. lifted its position in shares of First American Financial Corporation (NYSE:FAF) by 31.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,598,007 shares of the insurance provider’s stock after acquiring an additional 380,744 shares during the period. First American Financial makes up approximately 3.3% of Reinhart Partners LLC.’s portfolio, making the stock its 7th largest position. Reinhart Partners LLC. owned approximately 1.57% of First American Financial worth $102,657,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of First American Financial during the 2nd quarter valued at about $77,143,000. Channing Capital Management LLC lifted its position in First American Financial by 875.1% during the second quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock valued at $81,250,000 after purchasing an additional 1,187,787 shares during the period. Boston Partners boosted its holdings in First American Financial by 20.0% in the second quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after purchasing an additional 940,687 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in First American Financial in the second quarter worth approximately $47,600,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in First American Financial in the 3rd quarter worth approximately $21,028,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Stock Up 1.2%

FAF stock opened at $61.31 on Friday. The business’s 50-day moving average price is $62.92 and its 200-day moving average price is $62.77. The stock has a market cap of $6.25 billion, a P/E ratio of 13.18 and a beta of 1.27. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $68.64.

First American Financial (NYSE:FAF) last released its earnings results on Thursday, October 23rd. The insurance provider reported $1.70 EPS for the quarter, topping 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 company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business earned $1.34 EPS. The firm’s revenue was up 40.7% compared to the same quarter last year. On average, equities research analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, December 8th. First American Financial’s dividend payout ratio (DPR) is presently 47.31%.

Analysts Set New Price Targets

FAF has been the topic of several research analyst reports. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Truist Financial increased their target price on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods boosted their price target on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Finally, Stephens initiated coverage on shares of First American Financial in a report on Friday, November 14th. They issued an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First American Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.75.

First American Financial Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.