Teacher Retirement System of Texas Purchases 62,106 Shares of First American Financial Corporation (NYSE:FAF)

Teacher Retirement System of Texas lifted its stake in First American Financial Corporation (NYSE:FAF - Free Report) by 266.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,407 shares of the insurance provider's stock after purchasing an additional 62,106 shares during the period. Teacher Retirement System of Texas owned 0.08% of First American Financial worth $5,605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in First American Financial by 57.6% in the fourth quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock valued at $42,000 after buying an additional 245 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of First American Financial by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,124,853 shares of the insurance provider's stock valued at $70,236,000 after purchasing an additional 6,708 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of First American Financial by 6.4% in the fourth quarter. Keybank National Association OH now owns 11,814 shares of the insurance provider's stock valued at $738,000 after purchasing an additional 707 shares in the last quarter. Raymond James Financial Inc. bought a new stake in First American Financial in the 4th quarter valued at approximately $7,932,000. Finally, Vestmark Advisory Solutions Inc. lifted its stake in First American Financial by 20.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 8,845 shares of the insurance provider's stock valued at $552,000 after acquiring an additional 1,490 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

First American Financial Stock Performance

Shares of NYSE FAF traded down $3.32 during trading hours on Thursday, reaching $56.64. 7,058,957 shares of the stock were exchanged, compared to its average volume of 781,886. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 37.51 and a beta of 1.24. The stock's fifty day simple moving average is $58.99 and its 200 day simple moving average is $61.34. First American Financial Corporation has a 52 week low of $52.73 and a 52 week high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.19. First American Financial had a net margin of 2.52% and a return on equity of 10.05%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm earned $0.45 earnings per share. First American Financial's revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.54 per share. The ex-dividend date was Monday, June 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.81%. First American Financial's dividend payout ratio is presently 143.05%.

Analyst Ratings Changes

Several brokerages have commented on FAF. Barclays cut their price target on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.50.

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.