Franklin Resources Inc. Has $342,000 Stock Holdings in First American Financial Co. (NYSE:FAF)

Franklin Resources Inc. reduced its stake in First American Financial Co. (NYSE:FAF) by 85.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,222 shares of the insurance provider’s stock after selling 29,949 shares during the period. Franklin Resources Inc.’s holdings in First American Financial were worth $342,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its position in First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after buying an additional 356 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in First American Financial in the second quarter valued at approximately $47,000. Quarry LP increased its holdings in shares of First American Financial by 340.8% during the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 668 shares in the last quarter. Blue Trust Inc. raised its position in shares of First American Financial by 214.2% during the third quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider’s stock worth $67,000 after purchasing an additional 696 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in shares of First American Financial in the 3rd quarter worth $75,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FAF. Barclays boosted their price target on shares of 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. Stephens boosted their target price on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $80.00 price target on shares of First American Financial in a research report on Tuesday, December 10th. Finally, Truist Financial boosted 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and a consensus price target of $74.50.

First American Financial Price Performance

Shares of FAF stock opened at $62.44 on Wednesday. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The company has a market cap of $6.43 billion, a P/E ratio of 70.16 and a beta of 1.30. The firm has a 50-day moving average of $65.28 and a 200-day moving average of $62.45.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $1.22 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.54 dividend. The ex-dividend date was Monday, December 9th. This represents a $2.16 annualized dividend and a yield of 3.46%. First American Financial’s dividend payout ratio is currently 242.70%.

First American Financial 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.