First American Financial Corporation $FAF Shares Sold by Versor Investments LP

Versor Investments LP lessened its holdings in shares of First American Financial Corporation (NYSE:FAF) by 62.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,841 shares of the insurance provider’s stock after selling 21,620 shares during the quarter. Versor Investments LP’s holdings in First American Financial were worth $825,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of First American Financial in the 2nd quarter worth approximately $77,143,000. Channing Capital Management LLC increased its holdings in shares of First American Financial by 875.1% in the 2nd quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock worth $81,250,000 after acquiring an additional 1,187,787 shares during the period. Boston Partners lifted its position in First American Financial by 20.0% in the 2nd quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock valued at $345,971,000 after purchasing an additional 940,687 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new position in First American Financial during the 2nd quarter valued at about $47,600,000. Finally, Reinhart Partners LLC. increased its stake in shares of First American Financial by 31.3% in the third 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 during the period. 89.05% of the stock is currently owned by institutional investors.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $66.52 on Wednesday. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.70 and a beta of 1.27. The company has a 50 day moving average price of $62.98 and a 200 day moving average price of $63.48. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $68.75.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. First American Financial’s payout ratio is currently 47.31%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FAF. Truist Financial boosted their price objective on First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Barclays cut their target price on First American Financial from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods increased their price target on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Stephens began coverage on shares of First American Financial in a research note on Friday, November 14th. They set an “equal weight” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

First American Financial Company 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.