CacheTech Inc. Sells 685 Shares of First American Financial Co. (NYSE:FAF)

CacheTech Inc. cut its position in First American Financial Co. (NYSE:FAF) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,168 shares of the insurance provider’s stock after selling 685 shares during the quarter. CacheTech Inc.’s holdings in First American Financial were worth $605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FAF. Blossom Wealth Management increased its holdings in First American Financial by 2.4% during the 3rd quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 165 shares in the last quarter. Custom Index Systems LLC lifted its holdings in First American Financial by 2.3% during the second quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock valued at $443,000 after purchasing an additional 182 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in First American Financial by 1.2% in the 2nd quarter. Pacer Advisors Inc. now owns 15,560 shares of the insurance provider’s stock worth $839,000 after buying an additional 187 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of First American Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock valued at $630,000 after purchasing an additional 193 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in First American Financial by 4.9% during the 1st quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after buying an additional 234 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on FAF shares. Barclays increased their target price on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial boosted their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Stephens raised their price target on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Stock Performance

First American Financial stock opened at $62.76 on Friday. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $67.88. The firm’s fifty day moving average price is $64.89 and its 200-day moving average price is $59.26. The stock has a market cap of $6.46 billion, a P/E ratio of 70.52 and a beta of 1.29.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts predict that First American Financial Co. will post 3.94 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $2.16 annualized dividend and a yield of 3.44%. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio is currently 242.70%.

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.