QRG Capital Management Inc. Sells 30,779 Shares of First American Financial Corporation $FAF

QRG Capital Management Inc. trimmed its holdings in shares of First American Financial Corporation (NYSE:FAF) by 84.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,690 shares of the insurance provider’s stock after selling 30,779 shares during the period. QRG Capital Management Inc.’s holdings in First American Financial were worth $366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First National Advisers LLC grew its holdings in shares of First American Financial by 2.2% during the third quarter. First National Advisers LLC now owns 46,849 shares of the insurance provider’s stock worth $3,009,000 after purchasing an additional 1,020 shares in the last quarter. Reinhart Partners LLC. raised its stake in First American Financial by 31.3% in the third quarter. Reinhart Partners LLC. now owns 1,598,007 shares of the insurance provider’s stock valued at $102,657,000 after purchasing an additional 380,744 shares in the last quarter. Versant Capital Management Inc lifted its position in First American Financial by 51.1% during the third quarter. Versant Capital Management Inc now owns 2,198 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 743 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in First American Financial in the 3rd quarter worth approximately $224,000. Finally, First Horizon Corp purchased a new position in First American Financial in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Stephens began coverage on First American Financial in a research note on Friday, November 14th. They set an “equal weight” rating for the company. Barclays cut their price objective on First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, January 6th. Keefe, Bruyette & Woods raised their price objective on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, First American Financial currently has a consensus rating of “Moderate Buy” and an average price target of $75.75.

First American Financial Trading Down 2.4%

NYSE FAF opened at $63.46 on Friday. The firm has a market cap of $6.47 billion, a PE ratio of 13.65 and a beta of 1.27. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $68.64. The stock has a 50-day moving average of $62.84 and a 200-day moving average of $62.77.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned $1.34 EPS. The business’s quarterly revenue was up 40.7% on a year-over-year basis. As a group, equities research analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a $0.55 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. First American Financial’s dividend payout ratio (DPR) is currently 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.