Raymond James & Associates Decreases Holdings in First American Financial Co. (NYSE:FAF)

Raymond James & Associates cut its holdings in shares of First American Financial Co. (NYSE:FAF) by 7.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 110,747 shares of the insurance provider’s stock after selling 8,688 shares during the quarter. Raymond James & Associates’ holdings in First American Financial were worth $7,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in First American Financial by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after acquiring an additional 515,710 shares during the last quarter. Boston Partners increased its holdings in First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after acquiring an additional 479,618 shares during the last quarter. Vanguard Group Inc. increased its holdings in First American Financial by 4.3% in the 1st 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. increased its holdings in 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 acquiring an additional 374,662 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in 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 worth $22,659,000 after acquiring an additional 298,302 shares during the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FAF. Stephens lifted their price objective on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial lifted their price objective on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Barclays raised their target price on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.50.

First American Financial Stock Up 1.5 %

Shares of NYSE FAF opened at $64.66 on Thursday. The company has a market cap of $6.65 billion, a P/E ratio of 72.65 and a beta of 1.29. The business has a 50-day simple moving average of $64.80 and a two-hundred day simple moving average of $59.19. First American Financial Co. has a 52 week low of $50.54 and a 52 week high of $67.88.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS. Equities research analysts anticipate that First American Financial Co. will post 3.89 EPS for the current year.

First American Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio (DPR) is 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.