JPMorgan Chase & Co. Decreases Stake in First American Financial Corporation $FAF

JPMorgan Chase & Co. lowered its position in shares of First American Financial Corporation (NYSE:FAF) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,798 shares of the insurance provider’s stock after selling 33,213 shares during the quarter. JPMorgan Chase & Co. owned 0.16% of First American Financial worth $10,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SJS Investment Consulting Inc. increased its position in shares of First American Financial by 2,887.5% during the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 462 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in First American Financial in the second quarter worth $35,000. First Horizon Corp bought a new position in First American Financial in the 3rd quarter valued at $37,000. Tripletail Wealth Management LLC purchased a new stake in shares of First American Financial during the 3rd quarter valued at $41,000. Finally, Danske Bank A S purchased a new stake in shares of First American Financial during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FAF shares. Stephens raised shares of First American Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $81.00 in a report on Monday, March 2nd. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Truist Financial boosted their target price on shares of First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.50.

Insiders Place Their Bets

In other First American Financial news, Director Parker S. Kennedy acquired 44,841 shares of First American Financial stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the purchase, the director owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This represents a 21.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.

First American Financial Stock Performance

Shares of First American Financial stock opened at $58.56 on Friday. The stock has a market capitalization of $5.99 billion, a P/E ratio of 9.74, a P/E/G ratio of 0.60 and a beta of 1.25. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $71.47. The stock’s 50-day simple moving average is $64.86 and its 200 day simple moving average is $63.66.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.50. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the business earned $1.35 earnings per share. Equities research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $2.20 annualized dividend and a yield of 3.8%. First American Financial’s dividend payout ratio (DPR) is 36.61%.

First American Financial Company Profile

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.