Amalgamated Bank Trims Position in First American Financial Co. (NYSE:FAF)

Amalgamated Bank cut its holdings in First American Financial Co. (NYSE:FAF) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 64,403 shares of the insurance provider’s stock after selling 5,018 shares during the period. Amalgamated Bank owned 0.06% of First American Financial worth $3,475,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Principal Securities Inc. acquired a new position in First American Financial in the fourth quarter valued at $45,000. BNP Paribas Financial Markets increased its stake in shares of First American Financial by 15.0% during the 4th quarter. BNP Paribas Financial Markets now owns 20,551 shares of the insurance provider’s stock valued at $1,324,000 after acquiring an additional 2,678 shares during the last quarter. Norges Bank purchased a new position in shares of First American Financial during the 4th quarter worth about $76,210,000. Corient Private Wealth LLC boosted its position in shares of First American Financial by 20.2% in the fourth quarter. Corient Private Wealth LLC now owns 13,200 shares of the insurance provider’s stock worth $851,000 after acquiring an additional 2,222 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in First American Financial by 19.3% in the fourth quarter. Franklin Resources Inc. now owns 17,406 shares of the insurance provider’s stock valued at $1,122,000 after purchasing an additional 2,813 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

NYSE:FAF opened at $64.99 on Monday. The business’s 50-day moving average is $61.93 and its two-hundred day moving average is $57.85. The firm has a market capitalization of $6.74 billion, a PE ratio of 31.10 and a beta of 1.29. First American Financial Co. has a 12 month low of $49.55 and a 12 month high of $67.88.

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

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.32%. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, September 20th. First American Financial’s dividend payout ratio (DPR) is presently 103.35%.

Analysts Set New Price Targets

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

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.