Rockefeller Capital Management L.P. Cuts Stock Holdings in First American Financial Co. (NYSE:FAF)

Rockefeller Capital Management L.P. reduced its position in First American Financial Co. (NYSE:FAF) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,588 shares of the insurance provider’s stock after selling 381 shares during the period. Rockefeller Capital Management L.P.’s holdings in First American Financial were worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in FAF. Cetera Advisors LLC acquired a new position in shares of First American Financial in the first quarter worth about $457,000. CWM LLC raised its holdings in First American Financial by 246.8% in the 2nd quarter. CWM LLC now owns 6,229 shares of the insurance provider’s stock worth $336,000 after purchasing an additional 4,433 shares during the period. SG Americas Securities LLC purchased a new position in First American Financial during the second quarter worth approximately $1,191,000. Wealth Enhancement Advisory Services LLC grew its holdings in First American Financial by 12.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,663 shares of the insurance provider’s stock valued at $629,000 after purchasing an additional 1,336 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of First American Financial in the second quarter valued at approximately $243,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Down 0.8 %

Shares of FAF opened at $67.73 on Tuesday. The firm’s fifty day moving average is $65.76 and its two-hundred day moving average is $61.38. The stock has a market cap of $6.98 billion, a PE ratio of 76.10 and a beta of 1.30. First American Financial Co. has a 52-week low of $51.60 and a 52-week high of $70.92.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. 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 prior year, the company earned $1.22 EPS. First American Financial’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts anticipate that First American Financial Co. will post 4.07 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is currently 242.70%.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of recent analyst reports. Barclays increased their target price on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Stephens increased their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Truist Financial boosted their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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 research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.50.

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.