Intech Investment Management LLC Has $952,000 Stock Position in First American Financial Co. (NYSE:FAF)

Intech Investment Management LLC cut its stake in First American Financial Co. (NYSE:FAF) by 52.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,416 shares of the insurance provider’s stock after selling 15,915 shares during the quarter. Intech Investment Management LLC’s holdings in First American Financial were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FAF. Price T Rowe Associates Inc. MD raised its stake in shares of First American Financial by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 244,302 shares of the insurance provider’s stock worth $14,915,000 after purchasing an additional 1,302 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of First American Financial in the first quarter worth approximately $812,000. Comerica Bank raised its stake in shares of First American Financial by 3.9% in the first quarter. Comerica Bank now owns 51,634 shares of the insurance provider’s stock worth $3,152,000 after purchasing an additional 1,938 shares during the last quarter. Burney Co. raised its stake in shares of First American Financial by 3.1% in the first quarter. Burney Co. now owns 91,197 shares of the insurance provider’s stock worth $5,568,000 after purchasing an additional 2,753 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new stake in shares of First American Financial in the first quarter worth approximately $457,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FAF shares. Barclays increased their price objective 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. Stephens upped their target price on 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 upped their target price on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods upped their target price on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. 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, First American Financial presently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Trading Up 2.0 %

Shares of NYSE FAF opened at $70.63 on Friday. The stock has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $60.63. First American Financial Co. has a 1-year low of $51.60 and a 1-year high of $70.92. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 79.36 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its quarterly earnings data 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 business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the company earned $1.22 earnings per share. First American Financial’s revenue was down 5.1% compared to the same quarter last year. Analysts forecast that First American Financial Co. will post 4.07 EPS for the current year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued 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 dividend payout ratio (DPR) is 242.70%.

First American Financial Company 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.