First American Financial Co. (NYSE:FAF) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in First American Financial Co. (NYSE:FAF - Free Report) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,909 shares of the insurance provider's stock after selling 15,494 shares during the period. Amalgamated Bank's holdings in First American Financial were worth $3,228,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FAF. First Eagle Investment Management LLC grew its stake in First American Financial by 7.3% during the first quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider's stock worth $11,434,000 after buying an additional 12,720 shares during the period. Vanguard Group Inc. boosted its position in First American Financial by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider's stock worth $645,118,000 after purchasing an additional 431,089 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in First American Financial by 6.4% in the 2nd 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 purchasing an additional 86,330 shares in the last quarter. SG Americas Securities LLC purchased a new position in First American Financial in the second quarter valued at about $1,191,000. Finally, Seven Eight Capital LP acquired a new position in shares of First American Financial during the first quarter worth about $2,634,000. Hedge funds and other institutional investors own 89.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FAF. Barclays raised their target price on First American Financial from $70.00 to $72.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Truist Financial raised their price target on shares of First American Financial from $68.00 to $73.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Stephens lifted their price target on shares of First American Financial from $66.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, First American Financial has an average rating of "Moderate Buy" and an average target price of $72.50.

First American Financial Price Performance

Shares of NYSE:FAF traded up $1.74 during midday trading on Friday, reaching $64.23. The company had a trading volume of 590,117 shares, compared to its average volume of 702,144. First American Financial Co. has a one year low of $51.60 and a one year high of $67.88. The stock has a market capitalization of $6.62 billion, a P/E ratio of 72.17 and a beta of 1.29. The stock's fifty day moving average price is $64.82 and its 200-day moving average price is $59.58.

First American Financial (NYSE:FAF - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.19. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The company's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 EPS. As a group, sell-side analysts forecast that First American Financial Co. will post 3.99 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.54 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.36%. First American Financial's payout ratio is 242.70%.

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.