First American Financial Co. (NYSE:FAF) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 77.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,259 shares of the insurance provider's stock after selling 18,396 shares during the quarter. Hsbc Holdings PLC's holdings in First American Financial were worth $284,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FAF. Dimensional Fund Advisors LP increased its position in shares of First American Financial by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider's stock valued at $196,793,000 after buying an additional 515,710 shares in the last quarter. Boston Partners increased its stake in First American Financial by 13.3% during the first quarter. Boston Partners now owns 4,074,181 shares of the insurance provider's stock worth $248,237,000 after acquiring an additional 479,618 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of First American Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider's stock worth $645,118,000 after purchasing an additional 431,089 shares during the period. Reinhart Partners LLC. lifted its stake in shares of First American Financial by 65.8% in the 2nd quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider's stock valued at $50,916,000 after purchasing an additional 374,662 shares in the last quarter. Finally, Basswood Capital Management L.L.C. grew its holdings in shares of First American Financial by 91.5% during the 4th quarter. Basswood Capital Management L.L.C. now owns 455,127 shares of the insurance provider's stock worth $29,328,000 after purchasing an additional 217,496 shares during the period. Institutional investors and hedge funds own 89.05% of the company's stock.

Analysts Set New Price Targets

FAF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on First American Financial from $66.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Truist Financial lifted their target price on First American Financial from $65.00 to $68.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Stephens restated an "overweight" rating and issued a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Finally, Barclays lowered their price target on First American Financial from $65.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.75.

Read Our Latest Report on First American Financial

First American Financial Price Performance

FAF stock opened at $65.24 on Friday. The firm has a market cap of $6.77 billion, a PE ratio of 31.19 and a beta of 1.29. First American Financial Co. has a 12 month low of $49.55 and a 12 month high of $67.88. The firm has a 50 day simple moving average of $63.15 and a 200 day simple moving average of $58.36.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company's revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. As a group, sell-side analysts expect that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, September 20th. This is an increase from First American Financial's previous quarterly dividend of $0.53. First American Financial's payout ratio is presently 103.35%.

First American Financial 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.

See Also

• Five stocks we like better than First American Financial
• How to Calculate Retirement Income: MarketBeat’s Calculator
• When Is the Best Time to Invest in Mutual Funds?
• What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
• Is NVIDIA Stock in a Correction or Consolidation?
• Quiet Period Expirations Explained
• 3 Oversold Stocks with Big RSI Rebound Potential

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ Election warning coming true… (From Porter & Company) (Ad)

Should you invest $1,000 in First American Financial right now?

Before you consider First American Financial, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and First American Financial wasn't on the list.

While First American Financial currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here