Mutual of America Capital Management LLC Sells 3,781 Shares of First American Financial Co. (NYSE:FAF)

Mutual of America Capital Management LLC cut its stake in shares of First American Financial Co. (NYSE:FAF) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 55,607 shares of the insurance provider’s stock after selling 3,781 shares during the period. Mutual of America Capital Management LLC’s holdings in First American Financial were worth $3,671,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sei Investments Co. raised its holdings in First American Financial by 5.3% in the 1st quarter. Sei Investments Co. now owns 14,759 shares of the insurance provider’s stock worth $901,000 after acquiring an additional 741 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $645,118,000 after purchasing an additional 431,089 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of First American Financial by 4.9% during the first quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after buying an additional 234 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in First American Financial by 1.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 97,818 shares of the insurance provider’s stock worth $5,968,000 after buying an additional 1,782 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in First American Financial in the 1st quarter worth about $158,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of NYSE:FAF opened at $67.65 on Friday. The firm’s 50 day simple moving average is $64.89 and its two-hundred day simple moving average is $60.20. The company has a market capitalization of $6.97 billion, a P/E ratio of 76.01 and a beta of 1.29. First American Financial Co. has a 1-year low of $51.60 and a 1-year high of $67.88.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that First American Financial Co. will post 4.04 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is presently 242.70%.

Wall Street Analyst Weigh In

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

First American Financial Company 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.