Obermeyer Wealth Partners Makes New Investment in First American Financial Corporation $FAF

Obermeyer Wealth Partners acquired a new position in shares of First American Financial Corporation (NYSE:FAF) in the third quarter, HoldingsChannel reports. The institutional investor acquired 18,827 shares of the insurance provider’s stock, valued at approximately $1,144,000.

A number of other large investors have also added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. raised its stake in First American Financial by 616.4% in the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 376 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in First American Financial by 70.7% in the third quarter. Elevation Wealth Partners LLC now owns 437 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Wealth Enhancement Trust Services Inc. increased its stake in First American Financial by 140.0% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 600 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 350 shares during the last quarter. SHP Wealth Management acquired a new stake in shares of First American Financial in the 4th quarter valued at $51,000. Finally, Global Retirement Partners LLC acquired a new stake in First American Financial in the second quarter valued at about $55,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Buying and Selling at First American Financial

In other news, CAO Steven Adams sold 3,253 shares of First American Financial stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the transaction, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at approximately $767,447.66. This trade represents a 24.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of First American Financial from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, October 15th. Keefe, Bruyette & Woods raised their target price on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Benchmark began coverage on First American Financial in a report on Tuesday, July 21st. They set a “buy” rating and a $85.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a research report on Friday, October 16th. Finally, Barclays decreased their price target on First American Financial from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price of $82.80.

First American Financial Stock Up 0.6%

FAF opened at $66.69 on Thursday. First American Financial Corporation has a twelve month low of $56.20 and a twelve month high of $79.87. The company has a fifty day moving average of $68.80 and a 200-day moving average of $68.75. The stock has a market cap of $6.81 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.61 and a beta of 1.24.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 21st. The insurance provider reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.07). The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. During the same quarter in the previous year, the firm earned $1.84 EPS. Sell-side analysts anticipate that First American Financial Corporation will post 7.09 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 28th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is 33.80%.

First American Financial Company Profile

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.