Allspring Global Investments Holdings LLC Cuts Stake in First American Financial Co. (NYSE:FAF)

Allspring Global Investments Holdings LLC trimmed its position in First American Financial Co. (NYSE:FAF - Free Report) by 6.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 257,903 shares of the insurance provider's stock after selling 19,070 shares during the period. Allspring Global Investments Holdings LLC owned 0.25% of First American Financial worth $17,024,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. lifted its holdings in shares of First American Financial by 99.1% during the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider's stock worth $36,000 after purchasing an additional 334 shares during the period. GAMMA Investing LLC lifted its holdings in First American Financial by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider's stock worth $38,000 after buying an additional 257 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of First American Financial in the 2nd quarter valued at about $47,000. Quarry LP raised its position in shares of First American Financial by 340.8% during the second quarter. Quarry LP now owns 864 shares of the insurance provider's stock worth $47,000 after acquiring an additional 668 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its position in shares of First American Financial by 56.5% during the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider's stock worth $49,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 89.05% of the company's stock.

First American Financial Stock Performance

First American Financial stock traded down $0.66 during mid-day trading on Friday, reaching $63.28. The stock had a trading volume of 550,624 shares, compared to its average volume of 675,628. First American Financial Co. has a fifty-two week low of $49.55 and a fifty-two week high of $67.88. The stock's 50-day simple moving average is $64.69 and its 200-day simple moving average is $59.06. The firm has a market capitalization of $6.56 billion, a PE ratio of 30.28 and a beta of 1.29.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. On average, research analysts forecast that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, September 20th. This is a boost from First American Financial's previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 3.41%. First American Financial's payout ratio is 103.35%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FAF. Stephens increased their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday. Truist Financial boosted their target price on shares of First American Financial from $68.00 to $73.00 and gave the company a "buy" rating in a report on Friday. Keefe, Bruyette & Woods increased their price target on First American Financial from $66.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Finally, 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, First American Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

First American Financial 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.