LSV Asset Management Decreases Stock Holdings in First American Financial Co. (NYSE:FAF)

LSV Asset Management lowered its stake in shares of First American Financial Co. (NYSE:FAF) by 81.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the insurance provider’s stock after selling 26,920 shares during the period. LSV Asset Management’s holdings in First American Financial were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FAF. Mather Group LLC. boosted its holdings in First American Financial by 99.1% during the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after buying an additional 334 shares in the last quarter. GAMMA Investing LLC boosted its holdings in First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after buying an additional 257 shares in the last quarter. Principal Securities Inc. purchased a new stake in First American Financial during the fourth quarter worth about $45,000. Abich Financial Wealth Management LLC boosted its holdings in First American Financial by 56.5% during the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock worth $49,000 after buying an additional 288 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in First American Financial during the first quarter worth about $54,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

NYSE:FAF opened at $64.94 on Friday. The firm has a 50 day simple moving average of $60.19 and a 200-day simple moving average of $57.45. The firm has a market cap of $6.74 billion, a PE ratio of 31.10 and a beta of 1.29. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $66.11.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.35 earnings per share. As a group, sell-side analysts expect that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, September 20th. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s payout ratio is currently 101.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Truist Financial lifted their target price on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays cut their target price on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Finally, Stephens restated an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.75.

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.