First American Financial Co. (NYSE:FAF) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its stake in shares of First American Financial Co. (NYSE:FAFGet Rating) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,364 shares of the insurance provider’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in First American Financial were worth $1,448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in First American Financial by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,031,143 shares of the insurance provider’s stock valued at $779,858,000 after acquiring an additional 245,974 shares during the last quarter. HG Vora Capital Management LLC grew its stake in First American Financial by 5.3% in the 1st quarter. HG Vora Capital Management LLC now owns 10,850,000 shares of the insurance provider’s stock valued at $703,297,000 after acquiring an additional 550,000 shares during the last quarter. BlackRock Inc. grew its stake in First American Financial by 3.3% in the 1st quarter. BlackRock Inc. now owns 9,629,986 shares of the insurance provider’s stock valued at $624,215,000 after acquiring an additional 303,214 shares during the last quarter. State Street Corp grew its stake in First American Financial by 2.9% in the 1st quarter. State Street Corp now owns 3,193,170 shares of the insurance provider’s stock valued at $206,981,000 after acquiring an additional 90,276 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in First American Financial by 8.0% in the 1st quarter. LSV Asset Management now owns 2,499,311 shares of the insurance provider’s stock valued at $162,005,000 after purchasing an additional 185,694 shares in the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TheStreet lowered shares of First American Financial from a “b-” rating to a “c+” rating in a report on Friday, September 30th. Truist Financial reduced their target price on shares of First American Financial from $77.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, October 17th. Barclays reduced their target price on shares of First American Financial from $83.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, October 17th. Finally, StockNews.com assumed coverage on shares of First American Financial in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.88.

First American Financial Price Performance

Shares of FAF stock opened at $55.20 on Friday. The firm has a market cap of $5.72 billion, a P/E ratio of 13.02 and a beta of 1.22. First American Financial Co. has a 1-year low of $43.54 and a 1-year high of $81.54. The firm’s 50-day simple moving average is $48.89 and its 200-day simple moving average is $53.95.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were issued a dividend of $0.52 per share. This is a positive change from First American Financial’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Wednesday, September 7th. First American Financial’s dividend payout ratio is presently 49.06%.

First American Financial Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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