AlphaQuest LLC Sells 15,907 Shares of First American Financial Corporation $FAF

AlphaQuest LLC decreased its holdings in First American Financial Corporation (NYSE:FAF) by 61.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,969 shares of the insurance provider’s stock after selling 15,907 shares during the quarter. AlphaQuest LLC’s holdings in First American Financial were worth $640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its position in shares of First American Financial by 2,887.5% in the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after buying an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in First American Financial during the 2nd quarter worth $35,000. First Horizon Corp acquired a new position in First American Financial in the 3rd quarter valued at $37,000. Atlantic Union Bankshares Corp bought a new stake in shares of First American Financial during the 2nd quarter valued at $36,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of First American Financial during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Truist Financial increased their price target on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Barclays lowered their price objective on shares of First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 6th. Finally, Stephens initiated coverage on First American Financial in a research note on Friday, November 14th. They set an “equal weight” rating for the company. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and a consensus price target of $75.75.

First American Financial Price Performance

Shares of NYSE:FAF opened at $65.43 on Thursday. First American Financial Corporation has a one year low of $53.09 and a one year high of $68.64. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.69 and a beta of 1.27. The firm has a 50 day simple moving average of $62.91 and a 200 day simple moving average of $63.22.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 9th. First American Financial’s dividend payout ratio is presently 47.31%.

About First American Financial

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.