National Bank of Canada FI Sells 1,102 Shares of First American Financial Co. (NYSE:FAF)

National Bank of Canada FI lowered its position in First American Financial Co. (NYSE:FAF) by 22.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,752 shares of the insurance provider’s stock after selling 1,102 shares during the period. National Bank of Canada FI’s holdings in First American Financial were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 in the last quarter. Boston Partners boosted its position in shares of First American Financial by 13.3% during the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock valued at $248,237,000 after acquiring an additional 479,618 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of First American Financial by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock worth $76,977,000 after purchasing an additional 86,330 shares in the last quarter. Norges Bank bought a new position in shares of First American Financial in the fourth quarter worth approximately $76,210,000. Finally, Reinhart Partners LLC. raised its stake in First American Financial by 65.8% in the second quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock valued at $50,916,000 after purchasing an additional 374,662 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FAF shares. Keefe, Bruyette & Woods increased their price target on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Truist Financial raised their price target on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report 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 report on Thursday, July 25th. Finally, Barclays decreased their price objective on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and an average price target of $66.75.

First American Financial Trading Up 2.0 %

NYSE FAF opened at $66.26 on Friday. The stock has a 50-day moving average of $60.43 and a 200-day moving average of $57.50. The firm has a market cap of $6.82 billion, a PE ratio of 31.70 and a beta of 1.29. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $66.59.

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

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.54 per share. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Friday, September 20th. 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.