Hennion & Walsh Asset Management Inc. strengthens its position in First American Financial Co. (NYSE:FAF)

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Hennion & Walsh Asset Management Inc. increased its stake in the shares of First American Financial Co. (NYSE: FAFGet a rating) by 43.1% in the 1st quarter, Holdings Channel.com reports. The company held 3,800 shares of the insurance provider after acquiring 1,145 additional shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in First American Financial were worth $246,000 when it last filed with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Congress Asset Management Co. MA increased its position in shares of First American Financial by 3.0% during the first quarter. Congress Asset Management Co. MA now owns 61,176 shares of the insurance provider valued at $3,965,000 after purchasing an additional 1,798 shares during the period. DekaBank Deutsche Girozentrale increased its position in First American Financial shares by 5.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 26,696 shares of the insurance provider valued at $2,090,000 after purchasing an additional 1,296 shares during the period. Brookstone Capital Management bought a new stake in shares of First American Financial during the first quarter valued at approximately $601,000. Van ECK Associates Corp increased its position in First American Financial shares by 11.2% during the fourth quarter. Van ECK Associates Corp now owns 2,455 shares of the insurance provider valued at $192,000 after buying an additional 248 shares during the period. Finally, New York State Teachers Retirement System increased its position in First American Financial shares by 8.4% during the fourth quarter. The New York State Teachers’ Retirement System now owns 164,229 shares of the insurance provider valued at $12,848,000 after purchasing an additional 12,768 shares during the period. 84.95% of the shares are currently held by institutional investors and hedge funds.

Several equity research analysts have weighed in on the company recently. Credit Suisse Group downgraded First American Financial from an “outperform” rating to a “neutral” rating and lowered its price target for the company from $97.00 to $74.00 in a Friday research report April 1st. Barclays lowered its price target on shares of First American Financial from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday. BTIG Research cut its price target on shares of First American Financial from $81.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday, July 8. Truist Financial lowered its price target on First American Financial shares from $86.00 to $77.00 and gave the stock a “buy” rating in a research report Wednesday. To finish, StockNews.com began covering First American Financial shares in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Two equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.68.

In other First American Financial news, COO Christopher Michael Leavell sold 39,206 shares of the company in a transaction that took place on Monday, May 23. The stock was sold at an average price of $59.61, for a total value of $2,337,069.66. Following the completion of the sale, the COO now owns 166,465 shares of the company, valued at $9,922,978.65. The sale was disclosed in a legal filing with the SEC, accessible via this link. 3.40% of the shares are held by insiders.

Shares of FAF opened at $53.50 on Friday. The company has a market capitalization of $5.75 billion, a P/E ratio of 5.39 and a beta of 1.22. The stock has a 50-day simple moving average of $56.50 and a 200-day simple moving average of $64.47. First American Financial Co. has a 1-year low of $48.81 and a 1-year high of $81.54.

America’s first financial (NYSE: FAFGet a rating) last released its results on Thursday, April 28. The insurance provider reported earnings per share (EPS) of $1.17 for the quarter, missing the consensus estimate of $1.21 per ($0.04). The company posted revenue of $2.03 billion in the quarter, compared to $1.97 billion expected by analysts. First American Financial had a return on equity of 15.61% and a net margin of 11.98%. As a group, equity research analysts expect First American Financial Co. to post EPS of 6.59 for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Wednesday, June 8 received a dividend of $0.51. This represents an annualized dividend of $2.04 and a yield of 3.81%. The ex-dividend date was Tuesday, June 7. First American Financial’s dividend payout ratio is currently 20.54%.

First American financial profile (Get a rating)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through the Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial properties, as well as related products and services.

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Want to see which other hedge funds hold FAFs? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Financial Co. (NYSE: FAFGet a rating).

Institutional ownership by quarter for First American Financial (NYSE:FAF)



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