Principal Financial Group Inc. Sells 107,152 Shares of First American Financial Co. (NYSE:FAF)

Principal Financial Group Inc. lowered its stake in shares of First American Financial Co. (NYSE:FAF) by 31.0% during the third quarter, HoldingsChannel reports. The fund owned 237,974 shares of the insurance provider’s stock after selling 107,152 shares during the quarter. Principal Financial Group Inc.’s holdings in First American Financial were worth $15,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. 1834 Investment Advisors Co. boosted its stake in shares of First American Financial by 1.5% in the 3rd quarter. 1834 Investment Advisors Co. now owns 29,604 shares of the insurance provider’s stock valued at $1,954,000 after purchasing an additional 425 shares in the last quarter. QRG Capital Management Inc. increased its stake in First American Financial by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 33,864 shares of the insurance provider’s stock worth $2,235,000 after purchasing an additional 2,226 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in First American Financial by 94.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 82,156 shares of the insurance provider’s stock worth $5,423,000 after purchasing an additional 39,924 shares in the last quarter. Stephenson & Company Inc. acquired a new position in First American Financial during the 3rd quarter worth approximately $227,000. Finally, Trajan Wealth LLC acquired a new position in First American Financial during the 3rd quarter worth approximately $245,000. Institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FAF. Barclays raised their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Stephens raised their price target on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial raised their price objective on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Price Performance

Shares of NYSE:FAF opened at $64.97 on Friday. The company has a market capitalization of $6.69 billion, a PE ratio of 73.00 and a beta of 1.29. The business has a fifty day moving average price of $64.79 and a two-hundred day moving average price of $59.86. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $67.88.

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. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $1.22 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that First American Financial Co. will post 3.99 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.32%. First American Financial’s dividend payout ratio (DPR) 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.