Charles Schwab Investment Management Inc. Has $73.81 Million Position in First American Financial Co. (NYSE:FAF)

Charles Schwab Investment Management Inc. increased its holdings in First American Financial Co. (NYSE:FAF) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,118,145 shares of the insurance provider’s stock after acquiring an additional 8,315 shares during the period. Charles Schwab Investment Management Inc. owned about 1.09% of First American Financial worth $73,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FAF. Meeder Asset Management Inc. grew its holdings in First American Financial by 295.2% during the third quarter. Meeder Asset Management Inc. now owns 94,198 shares of the insurance provider’s stock worth $6,218,000 after buying an additional 70,361 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in First American Financial by 4.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,493,111 shares of the insurance provider’s stock worth $98,560,000 after acquiring an additional 66,290 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of First American Financial by 6.5% in the third quarter. Natixis Advisors LLC now owns 364,736 shares of the insurance provider’s stock valued at $24,077,000 after purchasing an additional 22,228 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of First American Financial in the third quarter valued at about $252,000. Finally, CIBC Asset Management Inc bought a new position in shares of First American Financial during the third quarter valued at about $203,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analysts Set New Price Targets

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

First American Financial Stock Up 2.0 %

Shares of NYSE FAF opened at $70.63 on Friday. The business has a 50-day simple moving average of $65.10 and a two-hundred day simple moving average of $60.63. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The company has a market cap of $7.28 billion, a P/E ratio of 79.36 and a beta of 1.29.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm posted $1.22 EPS. First American Financial’s revenue was down 5.1% on a year-over-year basis. Equities research analysts anticipate that First American Financial Co. will post 4.07 EPS for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s payout ratio is 242.70%.

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.