Retirement Systems of Alabama Sells 1,550 Shares of First American Financial Co. (NYSE:FAF)

Retirement Systems of Alabama cut its position in shares of First American Financial Co. (NYSE:FAF) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 128,020 shares of the insurance provider’s stock after selling 1,550 shares during the quarter. Retirement Systems of Alabama’s holdings in First American Financial were worth $6,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FAF. Norges Bank acquired a new stake in shares of First American Financial during the 4th quarter worth approximately $76,210,000. Boston Partners lifted its position in 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 purchasing an additional 479,618 shares during the period. Vanguard Group Inc. boosted 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 buying an additional 431,089 shares in the last quarter. MKP Capital Management L.L.C. bought a new stake in First American Financial in the 4th quarter valued at $25,776,000. Finally, Reinhart Partners LLC. raised its stake 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 valued at $50,916,000 after buying an additional 374,662 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FAF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Stephens reaffirmed an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a report on Thursday, July 25th. Barclays lowered their price objective on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Finally, Truist Financial raised their target price on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price of $65.25.

First American Financial Trading Up 3.0 %

NYSE FAF opened at $64.11 on Monday. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $65.54. The company has a 50 day moving average of $57.43 and a 200-day moving average of $56.93. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 30.67 and a beta of 1.28.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. First American Financial’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.35 EPS. On average, analysts forecast that First American Financial Co. will post 3.88 earnings per share for the current year.

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.