Deprince Race & Zollo Inc. Sells 308,294 Shares of First American Financial Corporation $FAF

Deprince Race & Zollo Inc. decreased its position in shares of First American Financial Corporation (NYSE:FAF) by 51.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295,723 shares of the insurance provider’s stock after selling 308,294 shares during the period. Deprince Race & Zollo Inc. owned 0.29% of First American Financial worth $18,997,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of First American Financial in the second quarter worth $77,143,000. Channing Capital Management LLC boosted its holdings in First American Financial by 875.1% in the 2nd quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock worth $81,250,000 after buying an additional 1,187,787 shares during the period. Boston Partners increased its stake in First American Financial by 20.0% in the 2nd quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after buying an additional 940,687 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in First American Financial during the second quarter valued at about $47,600,000. Finally, Davis Asset Management L.P. bought a new stake in First American Financial during the second quarter valued at about $17,702,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

FAF has been the subject of a number of recent analyst reports. Barclays upped their price objective on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Truist Financial upped their price target on First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Stephens began coverage on shares of First American Financial in a report on Friday, November 14th. They set an “equal weight” rating for the company. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.50.

First American Financial Price Performance

Shares of FAF opened at $61.90 on Monday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 13.31 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 business’s 50 day simple moving average is $63.27 and its 200-day simple moving average is $62.65.

First American Financial (NYSE:FAF) last posted its earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.28. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. First American Financial’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. On average, sell-side analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a $0.55 dividend. The ex-dividend date was Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.6%. First American Financial’s payout ratio is 47.31%.

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.