First American Financial Co. (NYSE:FAF) Stake Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its stake in shares of First American Financial Co. (NYSE:FAF) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,029 shares of the insurance provider’s stock after selling 747 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in First American Financial were worth $541,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. increased its holdings in shares of First American Financial by 99.1% in the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 334 shares during the last quarter. GAMMA Investing LLC increased its stake in First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 257 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of First American Financial during the second quarter worth $47,000. Abich Financial Wealth Management LLC lifted its position in shares of First American Financial by 56.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock worth $49,000 after buying an additional 288 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of First American Financial in the 1st quarter valued at about $54,000. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Stock Performance

Shares of FAF opened at $64.87 on Friday. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 31.04 and a beta of 1.29. The stock’s fifty day moving average is $62.48 and its 200-day moving average is $58.07. First American Financial Co. has a one year low of $49.55 and a one year high of $67.88.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The company had revenue of $1.61 billion for 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%. First American Financial’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 EPS. Analysts forecast that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be given a dividend of $0.54 per share. 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 dividend yield of 3.33%. First American Financial’s dividend payout ratio (DPR) is 103.35%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FAF. Stephens restated an “overweight” rating and issued a $66.00 target price on shares of First American Financial in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Barclays reduced their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Finally, Truist Financial lifted their price objective on shares of First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two 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, First American Financial currently has a consensus rating of “Moderate Buy” and an average price target of $66.75.

First American Financial 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.