Teacher Retirement System of Texas Has $1.41 Million Stock Position in First American Financial Co. (NYSE:FAF)

Posted by Defense World Staff on Jun 8th, 2023

Teacher Retirement System of Texas lowered its position in First American Financial Co. (NYSE:FAF – Get Rating) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,909 shares of the insurance provider’s stock after selling 5,426 shares during the quarter. Teacher Retirement System of Texas’ holdings in First American Financial were worth $1,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in First American Financial by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,031,143 shares of the insurance provider’s stock valued at $779,858,000 after purchasing an additional 245,974 shares in the last quarter. BlackRock Inc. grew its stake in First American Financial by 3.3% in the first quarter. BlackRock Inc. now owns 9,629,986 shares of the insurance provider’s stock valued at $624,215,000 after purchasing an additional 303,214 shares in the last quarter. State Street Corp grew its stake in First American Financial by 2.9% in the first quarter. State Street Corp now owns 3,193,170 shares of the insurance provider’s stock valued at $206,981,000 after purchasing an additional 90,276 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in First American Financial by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,740,010 shares of the insurance provider’s stock valued at $143,415,000 after purchasing an additional 315,686 shares in the last quarter. Finally, LSV Asset Management grew its stake in First American Financial by 4.2% in the fourth quarter. LSV Asset Management now owns 2,622,135 shares of the insurance provider’s stock valued at $137,243,000 after purchasing an additional 105,420 shares in the last quarter. Hedge funds and other institutional investors own 84.45% of the company’s stock.

First American Financial Stock Performance

NYSE FAF opened at $57.34 on Thursday. First American Financial Co. has a twelve month low of $43.54 and a twelve month high of $64.66. The stock has a market capitalization of $5.92 billion, a PE ratio of 28.81 and a beta of 1.26. The stock has a 50-day simple moving average of $56.34 and a 200 day simple moving average of $56.09.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 8th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $2.08 annualized dividend and a yield of 3.63%. First American Financial’s dividend payout ratio (DPR) is 104.52%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stephens upgraded First American Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $72.00 in a research note on Friday, February 10th. Barclays decreased their price target on First American Financial from $65.00 to $63.00 in a research note on Friday, April 28th. StockNews.com assumed coverage on First American Financial in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, TheStreet downgraded First American Financial from a “b-” rating to a “c+” rating in a research note on Friday, March 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and an average price target of $68.40.

First American Financial Profile

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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.