New York State Teachers Retirement System Sells 212 Shares of First American Financial Co. (NYSE:FAF)

New York State Teachers Retirement System decreased its position in First American Financial Co. (NYSE:FAF) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,815 shares of the insurance provider’s stock after selling 212 shares during the period. New York State Teachers Retirement System’s holdings in First American Financial were worth $7,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its holdings in First American Financial by 7.3% in the first quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock valued at $11,434,000 after purchasing an additional 12,720 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of First American Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after acquiring an additional 431,089 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of First American Financial by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock valued at $76,977,000 after acquiring an additional 86,330 shares during the last quarter. SG Americas Securities LLC bought a new position in First American Financial during the 2nd quarter worth approximately $1,191,000. Finally, Seven Eight Capital LP bought a new position in First American Financial during the 1st quarter worth approximately $2,634,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stephens lifted their price target on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays lifted their target price on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Truist Financial increased their price target on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, First American Financial has an average rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Stock Performance

FAF opened at $62.55 on Tuesday. The business’s 50-day simple moving average is $64.83 and its 200 day simple moving average is $59.42. The firm has a market capitalization of $6.44 billion, a PE ratio of 70.28 and a beta of 1.29. First American Financial Co. has a 52-week low of $51.60 and a 52-week high of $67.88.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the business earned $1.22 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. On average, research analysts forecast that First American Financial Co. will post 3.94 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were paid a $0.54 dividend. This is an increase from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, September 20th. First American Financial’s dividend payout ratio (DPR) is 242.70%.

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.