Thrivent Financial for Lutherans Has $1.60 Million Stake in First American Financial Co. (NYSE:FAF)

Thrivent Financial for Lutherans reduced its holdings in First American Financial Co. (NYSE:FAF) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,171 shares of the insurance provider’s stock after selling 891 shares during the period. Thrivent Financial for Lutherans’ holdings in First American Financial were worth $1,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FAF. Vaughan Nelson Investment Management L.P. increased its position in shares of First American Financial by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock valued at $76,977,000 after acquiring an additional 86,330 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of First American Financial during the 2nd quarter worth approximately $1,191,000. Tidal Investments LLC acquired a new stake in shares of First American Financial in the 1st quarter valued at approximately $812,000. Envestnet Asset Management Inc. boosted its holdings in shares of First American Financial by 5.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock valued at $8,067,000 after buying an additional 7,885 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in First American Financial during the second quarter worth $243,000. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Performance

Shares of FAF stock opened at $70.15 on Friday. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 78.82 and a beta of 1.29. The company has a 50-day simple moving average of $65.18 and a 200 day simple moving average of $60.70.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 earnings per share. Sell-side analysts forecast that First American Financial Co. will post 4.07 EPS for the current year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 3.08%. The ex-dividend date is Monday, December 9th. First American Financial’s dividend payout ratio is 242.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FAF. Stephens increased their price target on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. 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. Keefe, Bruyette & Woods boosted their price target 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. Finally, Barclays raised their price objective 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.