Allspring Global Investments Holdings LLC Boosts Position in First American Financial Co. (NYSE:FAF)

Allspring Global Investments Holdings LLC grew its holdings in shares of First American Financial Co. (NYSE:FAF) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 299,344 shares of the insurance provider’s stock after acquiring an additional 22,095 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First American Financial were worth $19,290,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of First American Financial by 2.1% during 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. BlackRock Inc. lifted its position in First American Financial by 3.4% in the 1st quarter. BlackRock Inc. now owns 9,889,562 shares of the insurance provider’s stock worth $550,453,000 after buying an additional 329,543 shares during the last quarter. State Street Corp lifted its position 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 worth $206,981,000 after buying an additional 90,276 shares during the last quarter. Boston Partners lifted its position in First American Financial by 17.6% in the 3rd quarter. Boston Partners now owns 3,169,320 shares of the insurance provider’s stock worth $178,994,000 after buying an additional 473,961 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in First American Financial by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,671,456 shares of the insurance provider’s stock worth $150,911,000 after buying an additional 72,860 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Stock Performance

FAF opened at $57.05 on Monday. First American Financial Co. has a 52-week low of $49.55 and a 52-week high of $65.54. The stock has a market capitalization of $5.91 billion, a PE ratio of 27.43 and a beta of 1.28. The stock’s 50 day moving average price is $58.14 and its 200-day moving average price is $58.22.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.47 billion. First American Financial had a return on equity of 8.27% and a net margin of 3.61%. First American Financial’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 EPS. Research analysts forecast that First American Financial Co. will post 4.47 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were issued a $0.53 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.12 dividend on an annualized basis and a yield of 3.72%. First American Financial’s dividend payout ratio (DPR) is 101.92%.

Wall Street Analyst Weigh In

FAF has been the subject of a number of recent research reports. TheStreet downgraded First American Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $66.00 to $69.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on First American Financial in a research report on Wednesday, January 10th. They issued a “buy” rating for the company. Finally, Stephens reiterated an “overweight” rating and issued a $73.00 price objective on shares of First American Financial in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.00.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.