Strs Ohio Has $2.16 Million Stock Holdings in First American Financial Corporation $FAF

Strs Ohio lessened its stake in First American Financial Corporation (NYSE:FAF) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,172 shares of the insurance provider’s stock after selling 5,155 shares during the quarter. Strs Ohio’s holdings in First American Financial were worth $2,159,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Retirement Systems of Alabama increased its stake in shares of First American Financial by 0.3% in the second quarter. Retirement Systems of Alabama now owns 125,766 shares of the insurance provider’s stock worth $7,721,000 after acquiring an additional 398 shares during the last quarter. Teacher Retirement System of Texas increased its position in First American Financial by 16.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 99,049 shares of the insurance provider’s stock worth $6,081,000 after purchasing an additional 13,642 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in First American Financial by 72.3% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 38,002 shares of the insurance provider’s stock worth $2,333,000 after purchasing an additional 15,948 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in First American Financial by 3.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,946 shares of the insurance provider’s stock worth $1,409,000 after purchasing an additional 723 shares during the last quarter. Finally, Brighton Jones LLC increased its position in First American Financial by 15.0% in the 2nd quarter. Brighton Jones LLC now owns 3,860 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 503 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FAF has been the topic of a number of research reports. Barclays increased their price objective on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Weiss Ratings upgraded shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Truist Financial increased their price target on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

First American Financial Trading Up 0.9%

NYSE:FAF opened at $62.72 on Wednesday. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $70.92. The firm’s fifty day simple moving average is $63.82 and its 200 day simple moving average is $61.30. The firm has a market capitalization of $6.39 billion, a PE ratio of 13.49 and a beta of 1.27.

First American Financial (NYSE:FAF) last posted its earnings results on Thursday, October 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.42. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. First American Financial’s revenue was up 40.7% compared to the same quarter last year. During the same period last year, the business posted $1.34 EPS. As a group, analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were issued a $0.55 dividend. This is an increase from First American Financial’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. First American Financial’s payout ratio is 47.31%.

First American Financial announced that its Board of Directors has initiated a stock repurchase program on Wednesday, July 23rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at First American Financial

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director owned 28,095 shares of the company’s stock, valued at $1,843,874.85. This trade represents a 11.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is owned by company insiders.

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.