Louisiana State Employees Retirement System Sells 800 Shares of First American Financial Co. (NYSE:FAF)

Louisiana State Employees Retirement System cut its holdings in First American Financial Co. (NYSE:FAF) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,500 shares of the insurance provider’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in First American Financial were worth $1,881,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Allworth Financial LP increased its stake in shares of First American Financial by 86.4% in the third quarter. Allworth Financial LP now owns 4,217 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 1,955 shares during the period. Blossom Wealth Management increased its stake in shares of First American Financial by 2.4% in the third quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 165 shares during the period. Fortis Group Advisors LLC bought a new position in shares of First American Financial in the third quarter worth about $1,869,000. ST Germain D J Co. Inc. increased its stake in shares of First American Financial by 1.1% in the third quarter. ST Germain D J Co. Inc. now owns 228,261 shares of the insurance provider’s stock worth $15,068,000 after purchasing an additional 2,521 shares during the period. Finally, Blue Trust Inc. increased its stake in First American Financial by 214.2% during the third quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 696 shares during the period. 89.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FAF has been the topic of several research reports. Stephens boosted their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Barclays boosted their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Trading Up 1.5 %

FAF stock opened at $64.66 on Thursday. First American Financial Co. has a 1-year low of $50.54 and a 1-year high of $67.88. The firm has a market cap of $6.65 billion, a P/E ratio of 72.65 and a beta of 1.29. The business’s 50 day moving average is $64.80 and its 200-day moving average is $59.19.

First American Financial (NYSE:FAF) last announced its earnings results 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 business 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 7.98% and a net margin of 3.28%. First American Financial’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. Sell-side analysts forecast that First American Financial Co. will post 3.89 EPS for the current year.

First American Financial Increases Dividend

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