First American Financial Co. (NYSE:FAF) Shares Sold by LSV Asset Management

LSV Asset Management decreased its stake in shares of First American Financial Co. (NYSE:FAF) by 81.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,300 shares of the insurance provider’s stock after selling 26,920 shares during the quarter. LSV Asset Management’s holdings in First American Financial were worth $340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FAF. Norges Bank acquired a new position in First American Financial during the fourth quarter worth approximately $76,210,000. Boston Partners grew its stake in First American Financial by 13.3% during the first quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after buying an additional 479,618 shares during the period. Vanguard Group Inc. grew its stake in First American Financial by 4.3% during the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after buying an additional 431,089 shares during the period. MKP Capital Management L.L.C. purchased a new stake in First American Financial during the fourth quarter worth approximately $25,776,000. Finally, Reinhart Partners LLC. grew its stake in First American Financial by 65.8% during the second quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock worth $50,916,000 after buying an additional 374,662 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Truist Financial boosted their price objective on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stephens reiterated an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Finally, Barclays decreased their price objective on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

First American Financial Trading Up 0.8 %

Shares of FAF stock opened at $64.94 on Friday. The company has a market capitalization of $6.74 billion, a PE ratio of 31.10 and a beta of 1.29. The firm has a fifty day simple moving average of $60.19 and a 200-day simple moving average of $57.45. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $66.11.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.14. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 earnings per share. Equities research analysts predict that First American Financial Co. will post 3.89 EPS for the current year.

First American Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 20th. This is a boost from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 3.33%. First American Financial’s dividend payout ratio is currently 101.44%.

About First American Financial

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.