Texas Permanent School Fund lessened its stake in shares of First American Financial Co. (NYSE:FAF – Get Rating) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,820 shares of the insurance provider’s stock after selling 1,665 shares during the quarter. Texas Permanent School Fund owned about 0.07% of First American Financial worth $5,044,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. HG Vora Capital Management LLC boosted its holdings in First American Financial by 8.4% in the fourth quarter. HG Vora Capital Management LLC now owns 10,300,000 shares of the insurance provider’s stock worth $805,769,000 after acquiring an additional 800,000 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in First American Financial by 56.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,751,230 shares of the insurance provider’s stock valued at $136,999,000 after purchasing an additional 634,833 shares in the last quarter. Invesco Ltd. raised its holdings in First American Financial by 84.6% during the fourth quarter. Invesco Ltd. now owns 498,062 shares of the insurance provider’s stock worth $38,962,000 after buying an additional 228,233 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of First American Financial by 21.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,210,488 shares of the insurance provider’s stock valued at $94,696,000 after buying an additional 212,653 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its holdings in shares of First American Financial by 280.5% during the fourth quarter. Great Lakes Advisors LLC now owns 269,799 shares of the insurance provider’s stock valued at $21,106,000 after buying an additional 198,885 shares during the last quarter. 84.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Barclays dropped their 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, July 11th. BTIG Research dropped their target price on First American Financial from $81.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, July 8th. Finally, Truist Financial decreased their price target on First American Financial from $86.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.68.
Insider Transactions at First American Financial
First American Financial Stock Up 0.3 %
Shares of NYSE FAF opened at $55.41 on Friday. The company has a market capitalization of $5.77 billion, a PE ratio of 6.74 and a beta of 1.21. The stock’s 50 day moving average price is $55.10 and its 200-day moving average price is $61.78. First American Financial Co. has a twelve month low of $48.81 and a twelve month high of $81.54.
First American Financial (NYSE:FAF – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The insurance provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.61. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.12 billion. First American Financial had a return on equity of 15.41% and a net margin of 10.11%. The business’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.13 earnings per share. As a group, research analysts expect that First American Financial Co. will post 6.41 EPS for the current fiscal year.
First American Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 8th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, June 7th. First American Financial’s dividend payout ratio is currently 24.82%.
About First American Financial
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.
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