Teachers Retirement System of The State of Kentucky Cuts Stock Position in First American Financial Co. (NYSE:FAF)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of First American Financial Co. (NYSE:FAF) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,805 shares of the insurance provider’s stock after selling 1,600 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in First American Financial were worth $2,178,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Bar Harbor Wealth Management bought a new position in shares of First American Financial in the 4th quarter valued at about $2,673,000. Verition Fund Management LLC boosted its holdings in shares of First American Financial by 21.3% in the 4th quarter. Verition Fund Management LLC now owns 196,081 shares of the insurance provider’s stock worth $12,635,000 after purchasing an additional 34,444 shares during the period. Neo Ivy Capital Management increased its position in shares of First American Financial by 119.2% during the 3rd quarter. Neo Ivy Capital Management now owns 56,392 shares of the insurance provider’s stock valued at $3,186,000 after purchasing an additional 30,664 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in First American Financial during the 4th quarter valued at $1,969,000. Finally, Heartland Advisors Inc. lifted its position in First American Financial by 11.0% in the fourth quarter. Heartland Advisors Inc. now owns 308,139 shares of the insurance provider’s stock worth $19,856,000 after buying an additional 30,579 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $53.95 on Friday. The firm’s 50 day simple moving average is $55.06 and its 200-day simple moving average is $58.36. First American Financial Co. has a one year low of $49.55 and a one year high of $65.54. The firm has a market cap of $5.60 billion, a PE ratio of 25.81 and a beta of 1.28.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.22). First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that First American Financial Co. will post 3.82 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s dividend payout ratio (DPR) is presently 101.44%.

Wall Street Analysts Forecast Growth

FAF has been the subject of several analyst reports. TheStreet lowered shares of First American Financial from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $66.00 to $69.00 in a research report on Thursday, March 21st. Finally, Stephens reiterated an “overweight” rating and issued a $72.00 price target on shares of First American Financial in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.75.

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.