First American Financial Corporation $FAF Stock Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of First American Financial Corporation (NYSE:FAF) by 370.8% during the 3rd quarter, Holdings Channel reports. The firm owned 30,600 shares of the insurance provider’s stock after purchasing an additional 24,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in First American Financial were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in First American Financial by 9.6% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the insurance provider’s stock worth $116,000 after buying an additional 148 shares during the last quarter. Equitable Trust Co. raised its stake in First American Financial by 2.3% in the first quarter. Equitable Trust Co. now owns 6,980 shares of the insurance provider’s stock valued at $421,000 after buying an additional 160 shares during the period. Elevation Wealth Partners LLC lifted its position in shares of First American Financial by 70.7% in the third quarter. Elevation Wealth Partners LLC now owns 437 shares of the insurance provider’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of First American Financial by 6.7% in the first quarter. Sanctuary Advisors LLC now owns 3,956 shares of the insurance provider’s stock valued at $239,000 after buying an additional 248 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of First American Financial by 0.7% during the 1st quarter. Meeder Asset Management Inc. now owns 40,934 shares of the insurance provider’s stock worth $2,468,000 after acquiring an additional 297 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Price Performance

First American Financial stock opened at $64.95 on Wednesday. The firm has a market cap of $6.63 billion, a PE ratio of 9.21 and a beta of 1.22. The stock’s fifty day moving average price is $67.31 and its two-hundred day moving average price is $67.39. First American Financial Corporation has a one year low of $56.20 and a one year high of $79.87.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 21st. The insurance provider reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. First American Financial had a return on equity of 13.41% and a net margin of 9.05%. During the same quarter in the previous year, the company earned $1.84 earnings per share. Sell-side analysts expect that First American Financial Corporation will post 6.94 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, September 28th. First American Financial’s payout ratio is presently 34.37%.

Analyst Ratings Changes

FAF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Benchmark initiated coverage on First American Financial in a report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price target for the company. Barclays reduced their price objective on shares of First American Financial from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Truist Financial decreased their price objective on shares of First American Financial from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a report on Friday, October 16th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and a consensus price target of $81.60.

First American Financial Profile

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.