JPMorgan Chase & Co. Sells 33,213 Shares of First American Financial Corporation $FAF

JPMorgan Chase & Co. trimmed its position in shares of First American Financial Corporation (NYSE:FAF) by 16.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,798 shares of the insurance provider’s stock after selling 33,213 shares during the period. JPMorgan Chase & Co. owned 0.16% of First American Financial worth $10,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of FAF. Allianz Asset Management GmbH raised its stake in First American Financial by 10.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 210,739 shares of the insurance provider’s stock valued at $13,538,000 after acquiring an additional 20,188 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of First American Financial by 129.0% in the second quarter. Thrivent Financial for Lutherans now owns 64,774 shares of the insurance provider’s stock worth $3,976,000 after purchasing an additional 36,485 shares in the last quarter. AXQ Capital LP raised its position in shares of First American Financial by 29.4% in the second quarter. AXQ Capital LP now owns 10,880 shares of the insurance provider’s stock valued at $668,000 after purchasing an additional 2,470 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of First American Financial during the 3rd quarter valued at approximately $1,215,000. Finally, Reinhart Partners LLC. lifted its stake in shares of First American Financial by 31.3% during the 3rd quarter. Reinhart Partners LLC. now owns 1,598,007 shares of the insurance provider’s stock valued at $102,657,000 after buying an additional 380,744 shares in the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FAF has been the subject of a number of recent analyst reports. Barclays lifted their target price on First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Truist Financial raised their price target on shares of First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.50.

First American Financial Trading Down 0.9%

Shares of First American Financial stock opened at $68.97 on Friday. The firm has a market capitalization of $7.03 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.72 and a beta of 1.25. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $71.47. The business’s 50-day moving average price is $64.50 and its 200-day moving average price is $64.07.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.50. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.First American Financial’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 earnings per share. As a group, analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.20 annualized dividend and a dividend yield of 3.2%. First American Financial’s dividend payout ratio (DPR) is currently 36.61%.

Insider Buying and Selling

In other First American Financial news, Director Parker S. Kennedy purchased 44,841 shares of the stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the purchase, the director directly owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by insiders.

First American Financial Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.