ProShare Advisors LLC Sells 8,801 Shares of First American Financial Corporation $FAF

ProShare Advisors LLC trimmed its position in First American Financial Corporation (NYSE:FAF) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 387,634 shares of the insurance provider’s stock after selling 8,801 shares during the quarter. ProShare Advisors LLC’s holdings in First American Financial were worth $23,545,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FAF. BlackRock Inc. bought a new position in First American Financial during the second quarter worth about $643,570,000. Dimensional Fund Advisors LP raised its stake in First American Financial by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider’s stock valued at $279,529,000 after buying an additional 245,279 shares during the period. Reinhart Partners LLC. raised its stake in First American Financial by 1.9% in the second quarter. Reinhart Partners LLC. now owns 1,553,234 shares of the insurance provider’s stock valued at $106,537,000 after buying an additional 28,534 shares during the period. Davis Asset Management L.P. bought a new stake in First American Financial in the second quarter valued at approximately $102,885,000. Finally, First Trust Advisors LP raised its stake in First American Financial by 110.2% in the first quarter. First Trust Advisors LP now owns 1,304,820 shares of the insurance provider’s stock valued at $78,668,000 after buying an additional 684,117 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Trading Up 3.6%

First American Financial stock opened at $66.12 on Tuesday. First American Financial Corporation has a 12 month low of $56.20 and a 12 month high of $79.87. The stock’s 50 day moving average is $67.45 and its 200-day moving average is $67.36. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.60 and a beta of 1.24.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 21st. The insurance provider reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. First American Financial had a return on equity of 13.41% and a net margin of 9.05%. During the same quarter last year, the business posted $1.84 EPS. As a group, equities research analysts predict that First American Financial Corporation will post 6.94 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, September 28th. First American Financial’s dividend payout ratio is currently 34.37%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FAF. Barclays cut their price objective on First American Financial from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a report on Friday, October 16th. Keefe, Bruyette & Woods increased their price target on First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Truist Financial cut their price target on First American Financial from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Finally, Benchmark started coverage on shares of First American Financial in a research report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.60.

First American Financial Profile

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.