First American Financial Corporation $FAF Holdings Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of First American Financial Corporation (NYSE:FAF) by 16.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,049 shares of the insurance provider’s stock after buying an additional 13,642 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of First American Financial worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Adams Wealth Management increased its stake in shares of First American Financial by 1.9% during the first quarter. Adams Wealth Management now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after acquiring an additional 207 shares during the period. CacheTech Inc. boosted its stake in First American Financial by 1.9% during the 1st quarter. CacheTech Inc. now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after purchasing an additional 207 shares in the last quarter. American Century Companies Inc. boosted its stake in First American Financial by 0.5% during the 1st quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 229 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of First American Financial by 23.9% in the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider’s stock valued at $87,000 after buying an additional 256 shares during the period. Finally, Knightsbridge Asset Management LLC lifted its holdings in shares of First American Financial by 3.7% in the first quarter. Knightsbridge Asset Management LLC now owns 7,778 shares of the insurance provider’s stock valued at $510,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Transactions at First American Financial

In other news, Director Margaret M. Mccarthy sold 3,500 shares of First American Financial stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total transaction of $229,705.00. Following the transaction, the director owned 28,095 shares in the company, valued at approximately $1,843,874.85. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FAF shares. Barclays boosted their price target on shares of First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. Truist Financial lifted their price objective on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Weiss Ratings upgraded shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Finally, Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

First American Financial Price Performance

Shares of FAF opened at $61.63 on Friday. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92. The company has a 50-day moving average of $64.05 and a two-hundred day moving average of $61.22. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 13.25 and a beta of 1.27.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.42 by $0.42. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The firm’s quarterly revenue was up 40.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. Analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial declared that its Board of Directors has authorized a share repurchase plan on Wednesday, July 23rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.55 per share. This is an increase from First American Financial’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.20 annualized dividend and a yield of 3.6%. First American Financial’s dividend payout ratio (DPR) is presently 47.31%.

First American Financial Profile

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.