JPMorgan Chase & Co. Cuts Position in First American Financial Corporation $FAF

JPMorgan Chase & Co. decreased its position in shares of First American Financial Corporation (NYSE:FAF) by 19.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,011 shares of the insurance provider’s stock after selling 47,571 shares during the period. JPMorgan Chase & Co.’s holdings in First American Financial were worth $12,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners increased its position in shares of First American Financial by 19.9% during the 2nd quarter. Boston Partners now owns 5,627,096 shares of the insurance provider’s stock valued at $345,612,000 after purchasing an additional 934,838 shares during the last quarter. Nuveen LLC purchased a new stake in First American Financial in the first quarter worth approximately $20,636,000. Cubist Systematic Strategies LLC bought a new position in First American Financial during the first quarter valued at approximately $15,580,000. AQR Capital Management LLC raised its stake in shares of First American Financial by 51.2% during the first quarter. AQR Capital Management LLC now owns 671,616 shares of the insurance provider’s stock worth $44,058,000 after acquiring an additional 227,382 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of First American Financial by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,150,660 shares of the insurance provider’s stock worth $272,406,000 after acquiring an additional 187,144 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FAF. Weiss Ratings raised shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Stephens initiated coverage on shares of First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial increased their target price on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Barclays lifted their price target on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.00.

First American Financial Trading Down 0.3%

First American Financial stock opened at $64.60 on Monday. The firm has a market cap of $6.58 billion, a P/E ratio of 13.89 and a beta of 1.27. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $69.53. The firm has a 50-day moving average of $62.83 and a 200-day moving average of $61.91.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company posted $1.34 EPS. First American Financial’s quarterly revenue was up 40.7% compared to the same quarter last year. Research analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. First American Financial’s dividend payout ratio (DPR) is presently 47.31%.

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.