Janney Montgomery Scott LLC Reduces Stock Position in First American Financial Co. (NYSE:FAF)

Janney Montgomery Scott LLC decreased its position in shares of First American Financial Co. (NYSE:FAF) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,780 shares of the insurance provider’s stock after selling 5,525 shares during the quarter. Janney Montgomery Scott LLC’s holdings in First American Financial were worth $1,900,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FAF. Stephenson & Company Inc. purchased a new position in First American Financial during the 3rd quarter valued at about $227,000. Trajan Wealth LLC purchased a new position in shares of First American Financial during the 3rd quarter worth approximately $245,000. Pallas Capital Advisors LLC raised its position in shares of First American Financial by 30.9% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,877 shares of the insurance provider’s stock worth $376,000 after purchasing an additional 1,387 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in First American Financial by 1.7% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 40,695 shares of the insurance provider’s stock valued at $2,682,000 after buying an additional 662 shares during the last quarter. Finally, Gemmer Asset Management LLC acquired a new stake in First American Financial during the 3rd quarter valued at $123,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FAF shares. Barclays boosted their price target 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. Stephens upped their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods lifted 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. Finally, Truist Financial boosted their price objective on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Price Performance

FAF opened at $64.07 on Wednesday. The business has a 50-day moving average of $64.82 and a two-hundred day moving average of $59.72. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $67.88. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 71.99 and a beta of 1.29.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm posted $1.22 earnings per share. First American Financial’s revenue was down 5.1% on a year-over-year basis. Equities research analysts anticipate that First American Financial Co. will post 3.99 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is presently 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.