JPMorgan Chase & Co. Boosts Holdings in First American Financial Co. (NYSE:FAF)

JPMorgan Chase & Co. lifted its stake in shares of First American Financial Co. (NYSE:FAF) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,820 shares of the insurance provider’s stock after acquiring an additional 10,489 shares during the period. JPMorgan Chase & Co. owned 0.21% of First American Financial worth $14,180,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC raised its stake in First American Financial by 57.8% during the third quarter. Sanctuary Advisors LLC now owns 6,669 shares of the insurance provider’s stock worth $451,000 after purchasing an additional 2,442 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of First American Financial during the 3rd quarter worth $75,000. Geode Capital Management LLC raised its position in shares of First American Financial by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider’s stock worth $112,306,000 after buying an additional 12,668 shares during the period. Barclays PLC boosted its holdings in First American Financial by 15.2% in the third quarter. Barclays PLC now owns 60,821 shares of the insurance provider’s stock valued at $4,016,000 after acquiring an additional 8,047 shares during the last quarter. Finally, MML Investors Services LLC grew its position in First American Financial by 10.0% during the third quarter. MML Investors Services LLC now owns 6,806 shares of the insurance provider’s stock valued at $449,000 after acquiring an additional 617 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FAF has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their price objective on First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a report on Wednesday. Barclays raised their price target on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Stephens boosted their price objective on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Truist Financial raised their target price on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

First American Financial Stock Down 3.6 %

NYSE FAF opened at $57.88 on Friday. The stock has a market cap of $5.96 billion, a PE ratio of 65.03 and a beta of 1.33. The business has a 50 day moving average price of $64.79 and a two-hundred day moving average price of $62.78. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92.

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

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Monday, December 9th. First American Financial’s payout ratio is 242.70%.

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.