Retirement Systems of Alabama Boosts Stake in First American Financial Co. (NYSE:FAF)

Retirement Systems of Alabama grew its position in First American Financial Co. (NYSE:FAF) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,229 shares of the insurance provider’s stock after acquiring an additional 515 shares during the quarter. Retirement Systems of Alabama’s holdings in First American Financial were worth $8,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in First American Financial by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,127,746 shares of the insurance provider’s stock worth $572,116,000 after buying an additional 81,888 shares during the period. Boston Partners grew its stake in First American Financial by 17.6% during the 3rd quarter. Boston Partners now owns 3,169,320 shares of the insurance provider’s stock worth $178,994,000 after buying an additional 473,961 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of First American Financial by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,671,456 shares of the insurance provider’s stock valued at $150,911,000 after acquiring an additional 72,860 shares in the last quarter. Victory Capital Management Inc. increased its stake in First American Financial by 6.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,135,149 shares of the insurance provider’s stock valued at $120,615,000 after purchasing an additional 133,807 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of First American Financial by 46.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,229,294 shares of the insurance provider’s stock worth $79,216,000 after buying an additional 387,848 shares during the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First American Financial in a report on Wednesday, January 10th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $66.00 to $69.00 in a research note on Thursday, March 21st. Stephens reiterated an “overweight” rating and issued a $72.00 price target on shares of First American Financial in a report on Thursday, April 25th. Finally, TheStreet cut shares of First American Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.75.

First American Financial Trading Up 0.5 %

Shares of NYSE:FAF opened at $54.38 on Friday. The company has a market capitalization of $5.64 billion, a PE ratio of 26.02 and a beta of 1.28. First American Financial Co. has a 12-month low of $49.55 and a 12-month high of $65.54. The business has a 50 day moving average of $57.10 and a two-hundred day moving average of $58.29.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the company posted $0.49 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts predict that First American Financial Co. will post 4.28 earnings per share for the current fiscal year.

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.