Janney Montgomery Scott LLC Reduces Holdings in First American Financial Co. (NYSE:FAF)

Janney Montgomery Scott LLC reduced its stake in First American Financial Co. (NYSE:FAF) by 21.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,546 shares of the insurance provider’s stock after selling 6,234 shares during the period. Janney Montgomery Scott LLC’s holdings in First American Financial were worth $1,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UMB Bank n.a. boosted its position in First American Financial by 66.9% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock valued at $33,000 after buying an additional 210 shares during the period. Merit Financial Group LLC bought a new stake in shares of First American Financial in the fourth quarter worth about $453,000. Goldstone Financial Group LLC purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $204,000. Oak Thistle LLC purchased a new position in First American Financial during the 4th quarter valued at $1,476,000. Finally, Pallas Capital Advisors LLC raised its stake in First American Financial by 4.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 6,149 shares of the insurance provider’s stock worth $384,000 after buying an additional 272 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of FAF stock opened at $62.76 on Tuesday. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 70.52 and a beta of 1.33. The company’s fifty day moving average price is $63.86 and its 200-day moving average price is $63.67.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Monday, March 10th. First American Financial’s dividend payout ratio is currently 242.70%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stephens raised their price objective 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. Truist Financial lifted their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays increased their price objective on shares of 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, Keefe, Bruyette & Woods cut their price target on First American Financial from $80.00 to $74.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.