Victory Capital Management Inc. Decreases Holdings in First American Financial Corporation $FAF

Victory Capital Management Inc. decreased its position in First American Financial Corporation (NYSE:FAF) by 58.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 665,335 shares of the insurance provider’s stock after selling 953,979 shares during the quarter. Victory Capital Management Inc.’s holdings in First American Financial were worth $42,741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners lifted its holdings in shares of First American Financial by 20.0% in the 2nd quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after acquiring an additional 940,687 shares during the last quarter. Reinhart Partners LLC. boosted its stake in shares of First American Financial by 31.3% in the 3rd quarter. Reinhart Partners LLC. now owns 1,598,007 shares of the insurance provider’s stock valued at $102,657,000 after purchasing an additional 380,744 shares in the last quarter. Channing Capital Management LLC grew its holdings in shares of First American Financial by 16.9% during the 3rd quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider’s stock valued at $99,430,000 after purchasing an additional 224,277 shares during the last quarter. Norges Bank purchased a new position in First American Financial in the 2nd quarter worth $77,143,000. Finally, Corient Private Wealth LLC raised its position in First American Financial by 5.8% in the 2nd quarter. Corient Private Wealth LLC now owns 815,810 shares of the insurance provider’s stock worth $50,063,000 after purchasing an additional 44,749 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Insiders Place Their Bets

In other First American Financial news, Director Parker S. Kennedy acquired 44,841 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the transaction, the director owned 251,552 shares in the company, valued at $17,067,803.20. This represents a 21.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial raised their price objective on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Barclays boosted their target price on First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Keefe, Bruyette & Woods raised their price target on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Stephens raised First American Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $81.00 in a research note on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

First American Financial Trading Down 1.9%

FAF stock opened at $67.71 on Friday. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.70 and a beta of 1.25. The firm’s 50-day moving average price is $64.62 and its two-hundred day moving average price is $64.09. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $71.47.

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

First American Financial Dividend Announcement

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

About First American Financial

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.