California State Teachers Retirement System Has $7.26 Million Stock Position in First American Financial Corporation $FAF

Key Points

• California State Teachers Retirement System increased its First American Financial stake by 25.2% in the first quarter, holding 120,448 shares valued at approximately $7.26 million. Institutional investors collectively own 89.05% of the company.
• First American Financial exceeded quarterly expectations, reporting $2.08 in EPS versus the $1.80 consensus estimate and $2.11 billion in revenue, up 15% year over year.
• The company maintains a quarterly dividend of $0.55 per share, equivalent to a 2.9% annualized yield. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $84.60.

California State Teachers Retirement System lifted its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 25.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,448 shares of the insurance provider's stock after acquiring an additional 24,224 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of First American Financial worth $7,262,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Duncker Streett & Co. Inc. increased its stake in First American Financial by 616.4% during the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider's stock worth $26,000 after acquiring an additional 376 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of First American Financial in the 4th quarter valued at approximately $27,000. Global Retirement Partners LLC boosted its position in First American Financial by 1,107.5% in the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider's stock valued at $30,000 after buying an additional 443 shares in the last quarter. Danske Bank A S bought a new stake in First American Financial during the 3rd quarter worth $45,000. Finally, IFP Advisors Inc boosted its stake in shares of First American Financial by 568.8% during the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 637 shares in the last quarter. 89.05% of the stock is owned by institutional investors.

Insider Activity

In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the sale, the chief accounting officer directly owned 10,234 shares in the company, valued at $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by insiders.

First American Financial Stock Performance

First American Financial stock opened at $76.11 on Wednesday. First American Financial Corporation has a fifty-two week low of $56.20 and a fifty-two week high of $79.87. The firm's 50-day simple moving average is $69.57 and its 200 day simple moving average is $66.78. The stock has a market cap of $7.77 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22.

First American Financial (NYSE:FAF - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping the consensus estimate of $1.80 by $0.28. The firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 EPS. As a group, analysts predict that First American Financial Corporation will post 7.02 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.55 per share. The ex-dividend date was Monday, June 8th. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. First American Financial's dividend payout ratio (DPR) is presently 30.47%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of First American Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Truist Financial lifted their price target on shares of First American Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Barclays increased their target price on shares of First American Financial from $80.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a "buy (b)" rating on shares of First American Financial in a research note on Monday, July 20th. Finally, Wall Street Zen downgraded shares of First American Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.60.

First American Financial 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.

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