Geode Capital Management LLC Raises Stock Position in First American Financial Co. (NYSE:FAF)

Geode Capital Management LLC raised its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 0.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,700,903 shares of the insurance provider's stock after buying an additional 12,668 shares during the quarter. Geode Capital Management LLC owned about 1.65% of First American Financial worth $112,306,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FAF. Dimensional Fund Advisors LP grew its holdings in shares of First American Financial by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider's stock valued at $196,793,000 after buying an additional 515,710 shares during the last quarter. Ariel Investments LLC lifted its position in First American Financial by 2.8% during the 2nd quarter. Ariel Investments LLC now owns 3,609,697 shares of the insurance provider's stock worth $194,743,000 after acquiring an additional 97,158 shares during the period. Victory Capital Management Inc. grew its stake in First American Financial by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider's stock valued at $164,746,000 after purchasing an additional 405,146 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of First American Financial by 4.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,493,111 shares of the insurance provider's stock valued at $98,560,000 after purchasing an additional 66,290 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of First American Financial in the third quarter worth about $95,638,000. Institutional investors and hedge funds own 89.05% of the company's stock.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of recent research reports. Barclays upped their target price on 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. Stephens upped their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Truist Financial increased their price objective on shares of First American Financial from $68.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $80.00 target price on shares of First American Financial in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.50.

First American Financial Price Performance

NYSE:FAF traded down $3.03 during trading hours on Wednesday, reaching $62.14. The company had a trading volume of 723,359 shares, compared to its average volume of 664,456. First American Financial Co. has a 1-year low of $51.60 and a 1-year high of $70.92. The business's 50 day moving average price is $65.84 and its 200-day moving average price is $61.83. The firm has a market cap of $6.40 billion, a PE ratio of 69.82 and a beta of 1.30.

First American Financial (NYSE:FAF - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business's revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. On average, analysts expect that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, December 9th. First American Financial's payout ratio is currently 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.