California State Teachers Retirement System Raises Stock Position in First American Financial Corporation $FAF

California State Teachers Retirement System grew its position in shares of First American Financial Corporation (NYSE:FAF) by 25.2% in the first quarter, Holdings Channel reports. The firm owned 120,448 shares of the insurance provider’s stock after purchasing an additional 24,224 shares during the period. California State Teachers Retirement System’s holdings in First American Financial were worth $7,262,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FAF. Boston Partners raised its holdings in shares of First American Financial by 8.9% in the 3rd quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after acquiring an additional 500,649 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in First American Financial by 4,485,375.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after buying an additional 5,786,134 shares during the period. Dimensional Fund Advisors LP increased its stake in First American Financial by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider’s stock worth $279,529,000 after purchasing an additional 245,279 shares during the period. Capital Research Global Investors increased its stake in shares of First American Financial by 3.3% in the fourth quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock worth $209,868,000 after buying an additional 109,242 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of First American Financial by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,793,179 shares of the insurance provider’s stock valued at $110,200,000 after acquiring an additional 19,752 shares during the period. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FAF. Zacks Research lowered First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Truist Financial upped their target price on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods increased their price target on shares of First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Barclays lifted their price target on shares of First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.60.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $76.11 on Wednesday. The stock’s 50-day simple moving average is $69.57 and its two-hundred day simple moving average is $66.78. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 0.71 and a beta of 1.22. First American Financial Corporation has a 52-week low of $56.20 and a 52-week high of $79.87.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.28. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $1.53 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities analysts forecast that First American Financial Corporation will post 7.02 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 8th. First American Financial’s payout ratio is currently 30.47%.

Insider Transactions at First American Financial

In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the sale, the chief accounting officer owned 10,234 shares in the company, valued at $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

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.