Public Employees Retirement System of Ohio Has $2.40 Million Position in First American Financial Co. (NYSE:FAF)

Public Employees Retirement System of Ohio cut its holdings in First American Financial Co. (NYSE:FAF) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,308 shares of the insurance provider’s stock after selling 1,787 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in First American Financial were worth $2,397,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC boosted its stake in shares of First American Financial by 132.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 356 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in First American Financial during the 2nd quarter worth $47,000. Quarry LP grew its holdings in First American Financial by 340.8% during the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 668 shares during the period. Blue Trust Inc. raised its position in shares of First American Financial by 214.2% during the 3rd quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 696 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of First American Financial in the 3rd quarter valued at $87,000. 89.05% of the stock is owned by institutional investors.

First American Financial Price Performance

Shares of FAF opened at $65.17 on Wednesday. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92. The company’s 50-day moving average is $65.81 and its 200-day moving average is $61.76. The firm has a market capitalization of $6.71 billion, a PE ratio of 73.22 and a beta of 1.30.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $1.22 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts predict that First American Financial Co. will post 4.07 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, December 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.31%. First American Financial’s payout ratio is presently 242.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens upped their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays increased their target price on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $80.00 price objective on shares of First American Financial in a research report on Tuesday, December 10th. Finally, Truist Financial increased their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and three 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 target price of $74.50.

About First American Financial

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.