First American Financial Corporation $FAF Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in shares of First American Financial Corporation (NYSE:FAF – Free Report) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 387,634 shares of the insurance provider’s stock after selling 8,801 shares during the quarter. ProShare Advisors LLC owned 0.38% of First American Financial worth $23,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vise Technologies Inc. bought a new stake in First American Financial in the 3rd quarter valued at approximately $248,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in First American Financial by 370.8% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,600 shares of the insurance provider’s stock worth $1,859,000 after acquiring an additional 24,100 shares during the last quarter. Choreo LLC boosted its position in First American Financial by 12.8% during the 3rd quarter. Choreo LLC now owns 5,888 shares of the insurance provider’s stock worth $361,000 after acquiring an additional 669 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of First American Financial by 123.6% during the 3rd quarter. Sterling Capital Management LLC now owns 39,467 shares of the insurance provider’s stock worth $2,397,000 after acquiring an additional 21,819 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of First American Financial during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analysts Set New Price Targets

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

Get Our Latest Analysis on First American Financial

First American Financial Stock Performance

Shares of NYSE FAF opened at $66.12 on Tuesday. The stock has a 50 day moving average price of $67.45 and a 200 day moving average price of $67.36. The stock has a market capitalization of $6.75 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 0.60 and a beta of 1.24. First American Financial Corporation has a 52 week low of $56.20 and a 52 week high of $79.87.

First American Financial (NYSE:FAF – Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The insurance provider reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.07). First American Financial had a return on equity of 13.41% and a net margin of 9.05%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the firm earned $1.84 EPS. As a group, research analysts forecast that First American Financial Corporation will post 6.94 EPS for the current year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were paid a $0.55 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is currently 34.37%.

First American Financial Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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