First American Financial Corporation $FAF Stock Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of First American Financial Corporation (NYSE:FAF) by 370.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,600 shares of the insurance provider’s stock after purchasing an additional 24,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in First American Financial were worth $1,859,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FAF. BlackRock Inc. bought a new stake in shares of First American Financial in the 2nd quarter worth approximately $643,570,000. Dimensional Fund Advisors LP grew its holdings in shares of First American Financial by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider’s stock worth $279,529,000 after purchasing an additional 245,279 shares in the last quarter. Reinhart Partners LLC. grew its holdings in shares of First American Financial by 1.9% during the 2nd quarter. Reinhart Partners LLC. now owns 1,553,234 shares of the insurance provider’s stock worth $106,537,000 after purchasing an additional 28,534 shares in the last quarter. Davis Asset Management L.P. bought a new stake in shares of First American Financial during the second quarter valued at approximately $102,885,000. Finally, First Trust Advisors LP increased its position in shares of First American Financial by 110.2% during the first quarter. First Trust Advisors LP now owns 1,304,820 shares of the insurance provider’s stock valued at $78,668,000 after purchasing an additional 684,117 shares during the period. 89.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FAF has been the subject of a number of analyst reports. Benchmark started coverage on shares of First American Financial in a report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a research report on Friday, October 16th. Truist Financial cut their price target on shares of First American Financial from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, Barclays cut their price target on shares of First American Financial from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.60.

First American Financial Trading Down 1.8%

First American Financial stock opened at $64.95 on Wednesday. First American Financial Corporation has a 1 year low of $56.20 and a 1 year high of $79.87. The company has a market cap of $6.63 billion, a PE ratio of 9.21 and a beta of 1.22. The company’s 50-day moving average is $67.31 and its two-hundred day moving average is $67.39.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 21st. The insurance provider reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). First American Financial had a net margin of 9.05% and a return on equity of 13.41%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the business posted $1.84 earnings per share. Research analysts forecast that First American Financial Corporation will post 6.94 EPS for the current year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, September 28th. First American Financial’s dividend payout ratio (DPR) is presently 34.37%.

About First American Financial

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.