Principal Financial Group Inc. Reduces Stock Holdings in First American Financial Co. (NYSE:FAF)

Principal Financial Group Inc. reduced its stake in First American Financial Co. (NYSE:FAF - Free Report) by 31.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,974 shares of the insurance provider's stock after selling 107,152 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of First American Financial worth $15,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FAF. Venturi Wealth Management LLC increased its holdings in shares of First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider's stock worth $41,000 after buying an additional 356 shares during the last quarter. Quarry LP increased its stake in First American Financial by 340.8% in the second quarter. Quarry LP now owns 864 shares of the insurance provider's stock valued at $47,000 after acquiring an additional 668 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in First American Financial during the second quarter valued at about $47,000. Blue Trust Inc. lifted its stake in First American Financial by 214.2% during the third quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider's stock worth $67,000 after purchasing an additional 696 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of First American Financial in the 3rd quarter worth about $75,000. 89.05% of the stock is currently owned by institutional investors.

First American Financial Trading Down 1.4 %

FAF stock traded down $0.91 during midday trading on Friday, hitting $62.54. The company had a trading volume of 312,824 shares, compared to its average volume of 661,541. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 70.27 and a beta of 1.30. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The stock's 50 day moving average price is $65.36 and its 200 day moving average price is $62.19.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.19. The company had revenue of $1.41 billion during 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 firm's 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 EPS. Analysts predict that First American Financial Co. will post 4.07 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.45%. First American Financial's dividend payout ratio is presently 242.70%.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of research reports. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $80.00 price objective on shares of First American Financial in a report on Tuesday, December 10th. 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. Barclays boosted their price objective on shares of First American Financial from $70.00 to $72.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Finally, Truist Financial increased 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, October 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.50.

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.