New York State Common Retirement Fund Grows Stock Holdings in First American Financial Corporation $FAF

New York State Common Retirement Fund grew its position in First American Financial Corporation (NYSE:FAF) by 258.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 371,378 shares of the insurance provider’s stock after buying an additional 267,653 shares during the period. New York State Common Retirement Fund owned 0.36% of First American Financial worth $22,799,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FAF. Elevation Point Wealth Partners LLC purchased a new stake in shares of First American Financial during the 2nd quarter valued at $35,000. Atlantic Union Bankshares Corp acquired a new position in First American Financial during the 2nd quarter valued at about $36,000. Ameritas Advisory Services LLC purchased a new stake in First American Financial in the second quarter valued at about $48,000. Ransom Advisory Ltd acquired a new stake in First American Financial in the first quarter worth about $66,000. Finally, Jones Financial Companies Lllp boosted its holdings in First American Financial by 121.3% in the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after acquiring an additional 813 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Stock Up 0.4%

Shares of FAF stock opened at $66.00 on Tuesday. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $70.68. The stock has a market cap of $6.73 billion, a PE ratio of 14.19 and a beta of 1.24. The business has a 50-day simple moving average of $62.84 and a 200-day simple moving average of $61.75.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted $1.34 earnings per share. First American Financial’s revenue for the quarter was up 40.7% on a year-over-year basis. Sell-side analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s payout ratio is presently 47.31%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FAF. Weiss Ratings raised shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Stephens initiated coverage on shares of First American Financial in a research note on Friday, November 14th. They set an “equal weight” rating on the stock. 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. Barclays raised their target price on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Finally, Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, First American Financial has an average rating of “Hold” and an average target price of $76.00.

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.