Mutual of America Capital Management LLC Has $3.14 Million Stock Position in First American Financial Corporation $FAF

Mutual of America Capital Management LLC decreased its position in First American Financial Corporation (NYSE:FAF) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,172 shares of the insurance provider’s stock after selling 1,842 shares during the period. Mutual of America Capital Management LLC’s holdings in First American Financial were worth $3,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Adams Wealth Management grew its holdings in shares of First American Financial by 1.9% in the 1st quarter. Adams Wealth Management now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after buying an additional 207 shares during the period. CacheTech Inc. lifted its position in First American Financial by 1.9% in the 1st quarter. CacheTech Inc. now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after acquiring an additional 207 shares in the last quarter. American Century Companies Inc. lifted its position in First American Financial by 0.5% in the 1st quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock valued at $2,823,000 after acquiring an additional 229 shares in the last quarter. GAMMA Investing LLC lifted its position in First American Financial by 23.9% in the 1st quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 256 shares in the last quarter. Finally, Knightsbridge Asset Management LLC lifted its position in First American Financial by 3.7% in the 1st quarter. Knightsbridge Asset Management LLC now owns 7,778 shares of the insurance provider’s stock valued at $510,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of NYSE:FAF opened at $63.50 on Friday. The company’s 50-day moving average price is $64.23 and its two-hundred day moving average price is $61.10. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92. The stock has a market capitalization of $6.46 billion, a PE ratio of 13.66 and a beta of 1.27.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.42 by $0.42. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.17%. The company’s revenue for the quarter was up 40.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. On average, analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, September 22nd. This is a positive change from First American Financial’s previous quarterly dividend of $0.54. First American Financial’s payout ratio is currently 121.55%.

First American Financial announced that its Board of Directors has initiated a share buyback plan on Wednesday, July 23rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on FAF. Truist Financial set a $76.00 price objective on shares of First American Financial in a research report on Thursday. Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First American Financial in a research report on Wednesday, October 8th. Barclays boosted their price objective on shares of First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First American Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.00.

Insider Activity

In other news, Director Margaret M. Mccarthy sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director directly owned 28,095 shares of the company’s stock, valued at approximately $1,843,874.85. This represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.70% of the company’s stock.

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.