Sumitomo Mitsui Trust Group Inc. Acquires Shares of 17,712 First American Financial Co. (NYSE:FAF)

Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of First American Financial Co. (NYSE:FAF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,712 shares of the insurance provider's stock, valued at approximately $1,106,000.

A number of other institutional investors have also recently bought and sold shares of FAF. Sanctuary Advisors LLC acquired a new position in First American Financial during the second quarter valued at approximately $229,000. CWM LLC lifted its stake in First American Financial by 114.8% in the third quarter. CWM LLC now owns 13,379 shares of the insurance provider's stock valued at $883,000 after buying an additional 7,150 shares in the last quarter. Bar Harbor Wealth Management lifted its stake in First American Financial by 31.2% in the third quarter. Bar Harbor Wealth Management now owns 67,303 shares of the insurance provider's stock valued at $4,443,000 after buying an additional 16,015 shares in the last quarter. Blue Trust Inc. lifted its stake in First American Financial by 214.2% in the third quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider's stock valued at $67,000 after buying an additional 696 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in First American Financial by 1.1% in the third quarter. ST Germain D J Co. Inc. now owns 228,261 shares of the insurance provider's stock valued at $15,068,000 after buying an additional 2,521 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FAF shares. Stephens lifted their price target on shares of First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday. Barclays lifted their price target on shares of First American Financial from $70.00 to $72.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Truist Financial lifted their price target on shares of First American Financial from $68.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First American Financial from $74.00 to $75.00 and gave the stock a "market perform" rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, First American Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.50.

First American Financial Price Performance

NYSE FAF traded up $0.30 on Tuesday, hitting $63.96. 183,934 shares of the stock were exchanged, compared to its average volume of 441,092. The business's fifty day moving average is $62.65 and its 200 day moving average is $64.00. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The company has a market capitalization of $6.59 billion, a PE ratio of 71.86 and a beta of 1.33.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. Analysts predict that First American Financial Co. will post 4.07 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, March 10th. First American Financial's dividend payout ratio (DPR) is currently 242.70%.

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.