OLD National Bancorp IN Cuts Stake in First American Financial Co. (NYSE:FAF)

OLD National Bancorp IN trimmed its stake in First American Financial Co. (NYSE:FAF) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,933 shares of the insurance provider’s stock after selling 1,944 shares during the quarter. OLD National Bancorp IN owned about 0.07% of First American Financial worth $5,078,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of FAF. Dimensional Fund Advisors LP grew its stake in shares of First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after buying an additional 515,710 shares during the period. Boston Partners grew its position in First American Financial by 13.3% during the first quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock valued at $248,237,000 after acquiring an additional 479,618 shares during the period. Vanguard Group Inc. increased 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 worth $645,118,000 after acquiring an additional 431,089 shares during the last quarter. Reinhart Partners LLC. raised its holdings in shares of First American Financial by 65.8% in the 2nd quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock worth $50,916,000 after purchasing an additional 374,662 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of First American Financial by 245.1% in the 2nd quarter. AQR Capital Management LLC now owns 419,995 shares of the insurance provider’s stock valued at $22,659,000 after purchasing an additional 298,302 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Trading Down 0.5 %

FAF stock opened at $66.89 on Monday. The firm has a 50 day simple moving average of $64.44 and a 200-day simple moving average of $58.93. The company has a market capitalization of $6.94 billion, a P/E ratio of 32.00 and a beta of 1.29. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $67.88.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the firm earned $1.35 EPS. The company’s revenue was down 2.1% on a year-over-year basis. On average, research analysts predict that First American Financial Co. will post 3.89 EPS for the current year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $2.16 annualized dividend and a yield of 3.23%. This is a boost from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio is presently 103.35%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Barclays raised their target price on shares of First American Financial from $61.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Truist Financial upped their price target on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, First American Financial has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

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.