First American Financial Corporation $FAF Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of First American Financial Corporation (NYSE:FAF) by 7.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 103,337 shares of the insurance provider’s stock after selling 8,501 shares during the period. New York State Teachers Retirement System’s holdings in First American Financial were worth $6,230,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Strs Ohio lifted its holdings in First American Financial by 1,287.4% during the 1st quarter. Strs Ohio now owns 32,327 shares of the insurance provider’s stock worth $1,949,000 after buying an additional 29,997 shares during the last quarter. Keybank National Association OH increased its holdings in shares of First American Financial by 49.6% in the 1st quarter. Keybank National Association OH now owns 17,916 shares of the insurance provider’s stock valued at $1,080,000 after acquiring an additional 5,940 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in shares of First American Financial by 517.5% during the 1st quarter. Physician Wealth Advisors Inc. now owns 2,081 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 1,744 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in First American Financial during the first quarter worth approximately $117,000. Finally, Janney Montgomery Scott LLC grew its position in shares of First American Financial by 32.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,261 shares of the insurance provider’s stock valued at $1,222,000 after buying an additional 4,999 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Stock Performance

FAF stock opened at $71.04 on Wednesday. The stock has a market capitalization of $7.24 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.68 and a beta of 1.23. The company has a fifty day moving average of $67.90 and a 200-day moving average of $65.17. First American Financial Corporation has a one year low of $53.09 and a one year high of $71.93.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.27. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 earnings per share. Equities analysts forecast that First American Financial Corporation will post 6.75 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, June 8th. First American Financial’s dividend payout ratio is 33.79%.

Insider Buying and Selling

In other news, Director Margaret M. Mccarthy sold 6,630 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $70.59, for a total value of $468,011.70. Following the completion of the sale, the director directly owned 24,024 shares of the company’s stock, valued at $1,695,854.16. This trade represents a 21.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the sale, the senior vice president owned 29,635 shares in the company, valued at approximately $2,033,850.05. This trade represents a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FAF. Weiss Ratings raised First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 22nd. Zacks Research lowered First American Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods reduced their price objective on First American Financial from $87.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Truist Financial raised their target price on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

First American Financial Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.