California State Teachers Retirement System lowered its stake in shares of First American Financial Co. (NYSE:FAF – Free Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,827 shares of the insurance provider’s stock after selling 2,371 shares during the period. California State Teachers Retirement System owned about 0.13% of First American Financial worth $7,226,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in First American Financial during the second quarter worth about $36,000. Ridgewood Investments LLC acquired a new position in First American Financial during the first quarter worth about $38,000. Ellevest Inc. raised its position in First American Financial by 76.1% during the first quarter. Ellevest Inc. now owns 745 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 322 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of First American Financial in the first quarter valued at approximately $46,000. Finally, Industrial Alliance Investment Management Inc. raised its position in shares of First American Financial by 161.3% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock valued at $48,000 after buying an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on FAF shares. Barclays cut their price objective on shares of First American Financial from $65.00 to $63.00 in a research report on Friday, April 28th. Truist Financial boosted their target price on shares of First American Financial from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, July 28th. Stephens boosted their target price on shares of First American Financial from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, July 28th. SpectralCast restated a “maintains” rating on shares of First American Financial in a report on Tuesday, June 27th. Finally, BTIG Research restated a “neutral” rating on shares of First American Financial in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.25.
First American Financial Stock Down 0.9 %
FAF opened at $60.57 on Friday. First American Financial Co. has a 52-week low of $43.54 and a 52-week high of $64.66. The company has a 50 day moving average of $59.06 and a two-hundred day moving average of $57.48. The company has a market cap of $6.24 billion, a P/E ratio of 26.22 and a beta of 1.26.
First American Financial (NYSE:FAF – Get Free Report) last announced its earnings results on Thursday, July 27th. The insurance provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.39. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.50 billion. First American Financial had a net margin of 3.64% and a return on equity of 10.72%. Research analysts anticipate that First American Financial Co. will post 4.33 earnings per share for the current year.
About First American Financial
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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