First American Financial Corporation $FAF Stock Holdings Raised by Channing Capital Management LLC

Channing Capital Management LLC lifted its position in First American Financial Corporation (NYSE:FAF) by 16.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,547,790 shares of the insurance provider’s stock after purchasing an additional 224,277 shares during the quarter. First American Financial accounts for about 2.6% of Channing Capital Management LLC’s holdings, making the stock its 3rd largest holding. Channing Capital Management LLC owned approximately 1.52% of First American Financial worth $99,430,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. ProShare Advisors LLC lifted its position in First American Financial by 3.9% in the 2nd quarter. ProShare Advisors LLC now owns 4,561 shares of the insurance provider’s stock worth $280,000 after buying an additional 172 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of First American Financial by 3.9% during the third quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock worth $312,000 after acquiring an additional 180 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of First American Financial by 0.9% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider’s stock worth $1,381,000 after acquiring an additional 200 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of First American Financial by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 45,932 shares of the insurance provider’s stock valued at $2,820,000 after purchasing an additional 220 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of First American Financial by 15.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,935 shares of the insurance provider’s stock valued at $124,000 after purchasing an additional 252 shares during the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on FAF. Stephens initiated coverage on shares of First American Financial in a research note on Friday, November 14th. They issued an “equal weight” rating for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Truist Financial increased their target price on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Barclays lifted their price target on First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.67.

First American Financial Price Performance

Shares of NYSE:FAF opened at $67.34 on Friday. The stock’s 50-day moving average is $63.43 and its 200 day moving average is $63.78. The company has a market cap of $6.86 billion, a PE ratio of 11.20, a P/E/G ratio of 0.70 and a beta of 1.27. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $68.75.

First American Financial (NYSE:FAF) last issued its quarterly earnings data 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. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company earned $1.35 EPS. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. Analysts expect that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 9th. First American Financial’s payout ratio is presently 36.61%.

Insider Buying and Selling

In related news, Director Parker S. Kennedy bought 44,841 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the transaction, the director owned 251,552 shares in the company, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

First American Financial 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.