Intech Investment Management LLC Sells 15,915 Shares of First American Financial Co. (NYSE:FAF)

Intech Investment Management LLC reduced its stake in First American Financial Co. (NYSE:FAF) by 52.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,416 shares of the insurance provider’s stock after selling 15,915 shares during the period. Intech Investment Management LLC’s holdings in First American Financial were worth $952,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FAF. Dimensional Fund Advisors LP raised its position in shares of First American Financial by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after buying an additional 515,710 shares in the last quarter. Boston Partners raised its position in shares of First American Financial by 13.3% in the first quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after buying an additional 479,618 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of First American Financial by 19.4% in the third quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock worth $164,746,000 after buying an additional 405,146 shares in the last quarter. Reinhart Partners LLC. raised its position in shares of First American Financial by 65.8% in the second quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock worth $50,916,000 after buying an additional 374,662 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of First American Financial by 245.1% in the second quarter. AQR Capital Management LLC now owns 419,995 shares of the insurance provider’s stock worth $22,659,000 after buying an additional 298,302 shares in the last quarter. 89.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

First American Financial Stock Up 2.0 %

NYSE FAF opened at $70.63 on Friday. The stock’s 50-day simple moving average is $65.10 and its two-hundred day simple moving average is $60.63. First American Financial Co. has a twelve month low of $51.60 and a twelve month high of $70.92. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 79.36 and a beta of 1.29.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. On average, equities analysts expect that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.06%. First American Financial’s dividend payout ratio is currently 242.70%.

About First American Financial

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.