JPMorgan Chase & Co. Trims Position in First American Financial Co. (NYSE:FAF)


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JPMorgan Chase & Co. lessened its stake in shares of First American Financial Co. (NYSE:FAF) by 30.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 295,774 shares of the insurance provider’s stock after selling 132,385 shares during the quarter. JPMorgan Chase & Co.’s holdings in First American Financial were worth $15,271,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Rehmann Capital Advisory Group purchased a new position in First American Financial during the 4th quarter valued at about $913,000. Itau Unibanco Holding S.A. purchased a new position in First American Financial during the 4th quarter valued at about $2,447,000. Safeguard Investment Advisory Group LLC purchased a new position in First American Financial during the 4th quarter valued at about $30,000. Truist Financial Corp grew its holdings in First American Financial by 68.1% during the 4th quarter. Truist Financial Corp now owns 57,050 shares of the insurance provider’s stock valued at $2,945,000 after buying an additional 23,111 shares in the last quarter. Finally, Perry Creek Capital LP purchased a new position in First American Financial during the 4th quarter valued at about $78,613,000. 83.32% of the stock is owned by institutional investors and hedge funds.

NYSE:FAF opened at $60.44 on Tuesday. The business has a 50 day moving average of $55.59 and a 200 day moving average of $52.64. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 10.68 and a beta of 1.13. First American Financial Co. has a 1-year low of $39.03 and a 1-year high of $60.61.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, February 10th. The insurance provider reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.39. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.88 billion. First American Financial had a return on equity of 13.06% and a net margin of 9.61%. On average, research analysts anticipate that First American Financial Co. will post 5.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 8th were given a $0.46 dividend. The ex-dividend date was Friday, March 5th. This represents a $1.84 dividend on an annualized basis and a yield of 3.04%. First American Financial’s payout ratio is 31.94%.

Several research analysts have recently commented on the company. Barclays boosted their price objective on First American Financial from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, February 12th. Susquehanna boosted their price objective on First American Financial from $63.00 to $67.00 and gave the stock a “positive” rating in a report on Friday, February 12th. Susquehanna Bancshares boosted their price objective on First American Financial from $63.00 to $67.00 and gave the stock a “positive” rating in a report on Friday, February 12th. Finally, Zacks Investment Research raised First American Financial from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, January 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $60.86.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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