First American Financial Co. (NYSE:FAF) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of First American Financial Co. (NYSE:FAF) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,114 shares of the insurance provider’s stock after selling 3,860 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of First American Financial worth $5,552,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Blossom Wealth Management increased its position in First American Financial by 2.4% in the 3rd quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider’s stock valued at $469,000 after acquiring an additional 165 shares during the period. Custom Index Systems LLC grew its stake in shares of First American Financial by 2.3% in 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 in the last quarter. Pacer Advisors Inc. increased its holdings in shares of First American Financial by 1.2% during the second quarter. Pacer Advisors Inc. now owns 15,560 shares of the insurance provider’s stock valued at $839,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC raised its stake in shares of First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 257 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 334 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Price Performance

NYSE:FAF opened at $68.87 on Friday. The stock has a market cap of $7.09 billion, a PE ratio of 77.38 and a beta of 1.30. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92. The stock’s 50-day moving average is $65.66 and its two-hundred day moving average is $61.14.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.19. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. First American Financial’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.22 earnings per share. On average, equities research analysts anticipate that First American Financial Co. will post 4.07 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Monday, December 9th. First American Financial’s dividend payout ratio is presently 242.70%.

Wall Street Analysts Forecast Growth

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

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.