Barclays PLC Raises Stock Position in First American Financial Co. (NYSE:FAF)

Barclays PLC lifted its holdings in shares of First American Financial Co. (NYSE:FAF) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,821 shares of the insurance provider’s stock after acquiring an additional 8,047 shares during the quarter. Barclays PLC’s holdings in First American Financial were worth $4,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its position in shares of First American Financial by 23.2% in the second quarter. Commonwealth Equity Services LLC now owns 20,783 shares of the insurance provider’s stock worth $1,121,000 after buying an additional 3,914 shares during the period. nVerses Capital LLC acquired a new stake in First American Financial in the second quarter valued at approximately $194,000. Arizona State Retirement System raised its stake in shares of First American Financial by 1.8% during the second quarter. Arizona State Retirement System now owns 28,864 shares of the insurance provider’s stock valued at $1,557,000 after purchasing an additional 507 shares during the period. Savant Capital LLC lifted its position in shares of First American Financial by 303.2% during the second quarter. Savant Capital LLC now owns 15,797 shares of the insurance provider’s stock worth $852,000 after purchasing an additional 11,879 shares in the last quarter. Finally, Custom Index Systems LLC boosted its stake in shares of First American Financial by 2.3% in the second quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock valued at $443,000 after purchasing an additional 182 shares during the period. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FAF. Stephens lifted their price target on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $80.00 target price on shares of First American Financial in a research report on Tuesday, December 10th. Truist Financial increased their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barclays lifted their price objective on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

First American Financial Stock Performance

Shares of First American Financial stock opened at $62.82 on Monday. The firm has a market cap of $6.47 billion, a PE ratio of 70.59 and a beta of 1.30. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $70.92. The firm’s 50-day simple moving average is $65.73 and its 200-day simple moving average is $61.98.

First American Financial (NYSE:FAF) last issued 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 company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. On average, equities analysts predict that First American Financial Co. will post 4.07 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Monday, December 9th. First American Financial’s dividend payout ratio (DPR) 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.