First American Financial Co. (NYSE:FAF) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in First American Financial Co. (NYSE:FAF) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,893 shares of the insurance provider’s stock after purchasing an additional 3,257 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in First American Financial were worth $2,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FAF. FMR LLC lifted its position in First American Financial by 22.3% in the first quarter. FMR LLC now owns 8,610,627 shares of the insurance provider’s stock valued at $479,268,000 after acquiring an additional 1,567,428 shares during the last quarter. Boston Partners purchased a new stake in First American Financial in the first quarter valued at $72,249,000. Charles Schwab Investment Management Inc. lifted its position in First American Financial by 135.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,184,147 shares of the insurance provider’s stock valued at $141,577,000 after acquiring an additional 1,257,338 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in First American Financial in the fourth quarter valued at $57,776,000. Finally, Norges Bank purchased a new stake in First American Financial in the fourth quarter valued at $53,163,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Stock Up 1.0 %

Shares of First American Financial stock opened at $56.86 on Monday. First American Financial Co. has a 52-week low of $49.55 and a 52-week high of $64.66. The company’s 50-day simple moving average is $54.90 and its 200-day simple moving average is $57.25. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 25.05 and a beta of 1.25.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. First American Financial had a net margin of 3.78% and a return on equity of 9.82%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business posted $1.62 earnings per share. The business’s revenue was down 18.8% compared to the same quarter last year. Equities research analysts anticipate that First American Financial Co. will post 4.23 EPS for the current year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, December 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.73%. First American Financial’s dividend payout ratio (DPR) is 93.39%.

Insider Transactions at First American Financial

In other news, CAO Steven A. Adams sold 1,800 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $56.20, for a total transaction of $101,160.00. Following the transaction, the chief accounting officer now directly owns 7,487 shares in the company, valued at $420,769.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FAF shares. Truist Financial boosted their price target on shares of First American Financial from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Barclays started coverage on shares of First American Financial in a research report on Wednesday, November 15th. They issued an “equal weight” rating and a $53.00 price target for the company. Stephens reaffirmed an “overweight” rating and issued a $72.00 target price on shares of First American Financial in a report on Wednesday, October 11th. Finally, StockNews.com cut shares of First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $65.75.

First American Financial Company Profile

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.