First American Financial Co. (NYSE:FAF) Stake Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in First American Financial Co. (NYSE:FAF) by 3.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 59,388 shares of the insurance provider’s stock after selling 2,093 shares during the period. Mutual of America Capital Management LLC’s holdings in First American Financial were worth $3,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FAF. Verition Fund Management LLC lifted its stake in First American Financial by 21.3% during the fourth quarter. Verition Fund Management LLC now owns 196,081 shares of the insurance provider’s stock valued at $12,635,000 after purchasing an additional 34,444 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in First American Financial by 7.3% during 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. lifted its stake 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 valued at $645,118,000 after purchasing an additional 431,089 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in First American Financial by 9.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock valued at $81,836,000 after purchasing an additional 111,197 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in First American Financial during the fourth quarter valued at approximately $1,969,000. 89.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on FAF. Stephens reissued an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research note on Thursday, July 25th. Truist Financial increased their target price on shares of First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 26th. 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 research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.75.

First American Financial Stock Up 0.0 %

Shares of NYSE:FAF opened at $65.01 on Tuesday. The firm has a fifty day moving average of $62.09 and a two-hundred day moving average of $57.91. The firm has a market capitalization of $6.74 billion, a P/E ratio of 31.11 and a beta of 1.29. First American Financial Co. has a 12-month low of $49.55 and a 12-month high of $67.88.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (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 company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. Equities research analysts expect that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio (DPR) is 103.35%.

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.