Raymond James & Associates Sells 8,688 Shares of First American Financial Co. (NYSE:FAF)

Raymond James & Associates trimmed its holdings in shares of First American Financial Co. (NYSE:FAF) by 7.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,747 shares of the insurance provider’s stock after selling 8,688 shares during the period. Raymond James & Associates owned approximately 0.11% of First American Financial worth $7,310,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of First American Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after purchasing an additional 431,089 shares in the last quarter. Boston Partners lifted its holdings in shares of First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after purchasing an additional 479,618 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First American Financial by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after purchasing an additional 515,710 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of First American Financial by 2.8% in the 2nd quarter. Ariel Investments LLC now owns 3,609,697 shares of the insurance provider’s stock worth $194,743,000 after purchasing an additional 97,158 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of First American Financial by 6.4% in 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 purchasing an additional 86,330 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FAF shares. Keefe, Bruyette & Woods increased their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Stephens increased their target price on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays increased their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Truist Financial increased their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Trading Up 1.5 %

NYSE FAF opened at $64.66 on Thursday. The firm has a market capitalization of $6.65 billion, a P/E ratio of 72.65 and a beta of 1.29. The business has a fifty day simple moving average of $64.80 and a 200 day simple moving average of $59.19. First American Financial Co. has a 12 month low of $50.54 and a 12 month high of $67.88.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. 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 firm posted $1.22 EPS. First American Financial’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a dividend of $0.54 per share. The ex-dividend date was Friday, September 20th. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 3.34%. First American Financial’s dividend payout ratio (DPR) is currently 242.70%.

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.