First American Financial Co. (NYSE:FAF) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 85.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,222 shares of the insurance provider's stock after selling 29,949 shares during the quarter. Franklin Resources Inc.'s holdings in First American Financial were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its holdings in shares of First American Financial by 57.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,669 shares of the insurance provider's stock valued at $451,000 after purchasing an additional 2,442 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in First American Financial in the third quarter valued at about $75,000. Geode Capital Management LLC lifted its position in shares of First American Financial by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider's stock valued at $112,306,000 after acquiring an additional 12,668 shares during the period. Barclays PLC boosted its stake in shares of First American Financial by 15.2% during the 3rd quarter. Barclays PLC now owns 60,821 shares of the insurance provider's stock worth $4,016,000 after acquiring an additional 8,047 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of First American Financial by 10.0% in the 3rd quarter. MML Investors Services LLC now owns 6,806 shares of the insurance provider's stock worth $449,000 after acquiring an additional 617 shares during the period. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Price Performance

NYSE:FAF traded up $0.34 on Wednesday, reaching $62.44. The stock had a trading volume of 324,752 shares, compared to its average volume of 659,053. First American Financial Co. has a 12-month low of $51.60 and a 12-month high of $70.92. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 70.16 and a beta of 1.30. The firm's fifty day moving average is $65.25 and its two-hundred day moving average is $62.45.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings data 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. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The company's quarterly revenue was down 5.1% compared to the same quarter last year. As a group, research analysts forecast that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Monday, December 9th. First American Financial's payout ratio is 242.70%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FAF. Keefe, Bruyette & Woods reiterated 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. Truist Financial boosted 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 report on Friday, October 25th. Barclays raised their target price on shares of First American Financial from $70.00 to $72.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Finally, Stephens upped their price target 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.50.

First American Financial Company Profile

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.