JPMorgan Chase & Co. Reduces Stake in First American Financial Corporation $FAF

JPMorgan Chase & Co. lowered its stake in shares of First American Financial Corporation (NYSE:FAF) by 19.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,011 shares of the insurance provider’s stock after selling 47,571 shares during the period. JPMorgan Chase & Co. owned 0.20% of First American Financial worth $12,217,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FAF. Magnetar Financial LLC grew its holdings in First American Financial by 5.0% during the second quarter. Magnetar Financial LLC now owns 118,354 shares of the insurance provider’s stock valued at $7,266,000 after purchasing an additional 5,683 shares during the period. Ensign Peak Advisors Inc lifted its position in shares of First American Financial by 51.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 86,997 shares of the insurance provider’s stock valued at $5,341,000 after buying an additional 29,645 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of First American Financial by 22.2% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 18,020 shares of the insurance provider’s stock valued at $1,106,000 after buying an additional 3,270 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of First American Financial by 24.9% during the 2nd quarter. Intech Investment Management LLC now owns 25,645 shares of the insurance provider’s stock worth $1,574,000 after acquiring an additional 5,116 shares during the period. Finally, Creative Planning increased its holdings in First American Financial by 13.4% in the 2nd quarter. Creative Planning now owns 8,959 shares of the insurance provider’s stock worth $550,000 after acquiring an additional 1,059 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FAF shares. Stephens began coverage on shares of First American Financial in a report on Friday, November 14th. They set an “equal weight” rating on the stock. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Truist Financial boosted their price objective on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Barclays raised their target price on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.00.

First American Financial Stock Performance

Shares of FAF stock opened at $64.60 on Monday. The company has a market capitalization of $6.58 billion, a PE ratio of 13.89 and a beta of 1.27. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $69.53. The business’s fifty day moving average is $62.83 and its 200 day moving average is $61.91.

First American Financial (NYSE:FAF) last posted its earnings results on Thursday, October 23rd. The insurance provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business earned $1.34 earnings per share. The firm’s revenue was up 40.7% on a year-over-year basis. On average, sell-side analysts forecast that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, December 8th. First American Financial’s dividend payout ratio is 47.31%.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.