UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 8,610 Shares of First American Financial Co. (NYSE:FAF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in First American Financial Co. (NYSE:FAF) by 2.5% during the third quarter, Holdings Channel.com reports. The fund owned 332,913 shares of the insurance provider’s stock after selling 8,610 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First American Financial were worth $21,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FAF. Dimensional Fund Advisors LP boosted its stake in shares of First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after purchasing an additional 515,710 shares in the last quarter. Ariel Investments LLC boosted its position in First American Financial by 2.8% during the 2nd quarter. Ariel Investments LLC now owns 3,609,697 shares of the insurance provider’s stock valued at $194,743,000 after acquiring an additional 97,158 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of First American Financial by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock worth $164,746,000 after acquiring an additional 405,146 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of First American Financial by 4.6% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of First American Financial by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,145 shares of the insurance provider’s stock valued at $73,809,000 after purchasing an additional 8,315 shares in the last quarter. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Up 0.1 %

Shares of NYSE:FAF opened at $68.87 on Friday. First American Financial Co. has a twelve month low of $51.60 and a twelve month high of $70.92. The stock has a market capitalization of $7.09 billion, a PE ratio of 77.38 and a beta of 1.30. The firm’s 50 day moving average price is $65.66 and its 200-day moving average price is $61.14.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating 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 company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business earned $1.22 earnings per share. First American Financial’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts expect that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, December 9th. First American Financial’s dividend payout ratio is currently 242.70%.

Analyst Ratings Changes

FAF has been the subject of a number of research reports. Stephens increased their price objective on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays lifted their price target on shares of 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. Truist Financial raised their target price on shares of 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 objective 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and a consensus target price 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.