Texas Permanent School Fund Corp Has $5.73 Million Position in First American Financial Co. (NYSE:FAF)

Texas Permanent School Fund Corp lifted its holdings in shares of First American Financial Co. (NYSE:FAF) by 17.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,191 shares of the insurance provider’s stock after purchasing an additional 15,888 shares during the quarter. Texas Permanent School Fund Corp owned 0.10% of First American Financial worth $5,729,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Custom Index Systems LLC raised its position in shares of First American Financial by 2.3% during the second quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock worth $443,000 after purchasing an additional 182 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in First American Financial by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock valued at $630,000 after buying an additional 193 shares during the last quarter. Blossom Wealth Management raised its position in First American Financial by 2.9% in the 2nd quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock valued at $374,000 after buying an additional 195 shares during the last quarter. Bessemer Group Inc. raised its position in First American Financial by 4.9% in the 1st quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after buying an additional 234 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Up 0.8 %

NYSE:FAF opened at $64.94 on Friday. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 31.07 and a beta of 1.29. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $66.11. The stock’s 50 day moving average price is $60.19 and its two-hundred day moving average price is $57.45.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the firm earned $1.35 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts anticipate that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.54 per share. This is an increase from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, September 20th. First American Financial’s payout ratio is currently 101.44%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FAF shares. Barclays dropped their target price on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods lifted their target price on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial lifted their target price on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Stephens reaffirmed an “overweight” rating and set a $66.00 price target on shares of First American Financial in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

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.