State of New Jersey Common Pension Fund D Has $1.88 Million Stock Holdings in First American Financial Co. (NYSE:FAF)

State of New Jersey Common Pension Fund D lessened its holdings in First American Financial Co. (NYSE:FAF) by 36.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,872 shares of the insurance provider’s stock after selling 20,094 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in First American Financial were worth $1,881,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of First American Financial by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after acquiring an additional 431,089 shares in the last quarter. Boston Partners lifted its holdings in First American Financial by 13.3% during the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after buying an additional 479,618 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in First American Financial by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock worth $76,977,000 after buying an additional 86,330 shares during the period. Norges Bank acquired a new position in First American Financial during the 4th quarter worth about $76,210,000. Finally, Reinhart Partners LLC. lifted its holdings in First American Financial by 65.8% during the 2nd quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock worth $50,916,000 after buying an additional 374,662 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays cut their target price on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Truist Financial lifted their target price on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stephens reissued an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report 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 MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.75.

First American Financial Trading Down 2.6 %

FAF stock opened at $64.99 on Monday. The stock has a 50-day moving average price of $61.93 and a 200-day moving average price of $57.85. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $67.88. The firm has a market cap of $6.74 billion, a PE ratio of 31.10 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company posted $1.35 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, analysts forecast that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be given a $0.54 dividend. 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 of this dividend is Friday, September 20th. First American Financial’s payout ratio is presently 103.35%.

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.