Swiss National Bank boosted its holdings in shares of First American Financial Corp (NYSE:FAF) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 194,600 shares of the insurance provider’s stock after purchasing an additional 1,700 shares during the period. Swiss National Bank’s holdings in First American Financial were worth $10,039,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of FAF. BlackRock Inc. grew its position in First American Financial by 5.7% during the 2nd quarter. BlackRock Inc. now owns 10,865,847 shares of the insurance provider’s stock worth $561,982,000 after purchasing an additional 586,268 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of First American Financial by 23.3% in the second quarter. Victory Capital Management Inc. now owns 2,031,575 shares of the insurance provider’s stock valued at $105,073,000 after acquiring an additional 384,319 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of First American Financial by 18.0% in the second quarter. Janus Henderson Group PLC now owns 1,069,213 shares of the insurance provider’s stock valued at $55,300,000 after acquiring an additional 163,255 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of First American Financial by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 1,538,061 shares of the insurance provider’s stock valued at $79,549,000 after acquiring an additional 150,835 shares in the last quarter. Finally, Copeland Capital Management LLC purchased a new stake in shares of First American Financial in the third quarter valued at about $7,641,000. 82.58% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on FAF shares. Zacks Investment Research downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine downgraded shares of First American Financial from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $57.50.
First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.55 billion. First American Financial had a return on equity of 13.68% and a net margin of 10.39%. As a group, sell-side analysts expect that First American Financial Corp will post 4.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Friday, December 7th. First American Financial’s dividend payout ratio is currently 61.09%.
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About First American Financial
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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