First American Financial Co. (NYSE:FAF) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its stake in shares of First American Financial Co. (NYSE:FAF) by 2.7% in the third quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of First American Financial by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock worth $630,000 after acquiring an additional 193 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of First American Financial by 2.4% in the first quarter. State of Michigan Retirement System now owns 25,364 shares of the insurance provider’s stock worth $1,548,000 after buying an additional 600 shares during the period. Norden Group LLC acquired a new stake in shares of First American Financial in the first quarter worth $579,000. Retirement Systems of Alabama boosted its position in shares of First American Financial by 0.3% in the first quarter. Retirement Systems of Alabama now owns 129,570 shares of the insurance provider’s stock worth $7,910,000 after buying an additional 341 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in shares of First American Financial in the first quarter worth $316,000. 89.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FAF has been the subject of several recent analyst reports. 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 report on Friday, October 25th. Stephens lifted their price objective on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Truist Financial lifted their price objective on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $72.50.

First American Financial Price Performance

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

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, research analysts expect that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a $0.54 dividend. The ex-dividend date was Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s payout ratio is currently 242.70%.

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.