Engineers Gate Manager LP Sells 38,641 Shares of First American Financial Co. (NYSE:FAF)

Posted by Defense World Staff on Jun 13th, 2023

Engineers Gate Manager LP trimmed its holdings in shares of First American Financial Co. (NYSE:FAF – Get Rating) by 59.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,629 shares of the insurance provider’s stock after selling 38,641 shares during the quarter. Engineers Gate Manager LP’s holdings in First American Financial were worth $1,394,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Armstrong Advisory Group Inc. bought a new position in First American Financial in the 4th quarter valued at about $36,000. Point72 Hong Kong Ltd bought a new position in First American Financial in the 2nd quarter valued at about $36,000. Brown Brothers Harriman & Co. bought a new position in First American Financial in the 1st quarter valued at about $46,000. Hollencrest Capital Management bought a new stake in shares of First American Financial during the 4th quarter valued at approximately $52,000. Finally, Ten Capital Wealth Advisors LLC bought a new stake in shares of First American Financial during the 4th quarter valued at approximately $85,000. 84.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FAF shares. Barclays decreased their price target on shares of First American Financial from $65.00 to $63.00 in a report on Friday, April 28th. StockNews.com started coverage on shares of First American Financial in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, TheStreet lowered shares of First American Financial from a “b-” rating to a “c+” rating in a report on Friday, March 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, First American Financial currently has a consensus rating of “Moderate Buy” and an average price target of $68.40.

First American Financial Price Performance

NYSE:FAF opened at $55.31 on Tuesday. The firm’s 50 day simple moving average is $56.39 and its 200 day simple moving average is $56.16. First American Financial Co. has a one year low of $43.54 and a one year high of $64.66. The company has a market cap of $5.71 billion, a PE ratio of 27.79 and a beta of 1.26.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.76%. First American Financial’s dividend payout ratio (DPR) is currently 104.52%.

First American Financial Company Profile

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