Principal Financial Group Inc. Purchases 10,495 Shares of First American Financial Co. (NYSE:FAF)

Principal Financial Group Inc. boosted its position in First American Financial Co. (NYSE:FAFGet Rating) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 422,436 shares of the insurance provider’s stock after acquiring an additional 10,495 shares during the period. Principal Financial Group Inc.’s holdings in First American Financial were worth $22,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FAF. SG Americas Securities LLC increased its position in shares of First American Financial by 38.0% during the first quarter. SG Americas Securities LLC now owns 15,140 shares of the insurance provider’s stock valued at $981,000 after acquiring an additional 4,169 shares during the last quarter. FDx Advisors Inc. increased its position in shares of First American Financial by 10.1% during the first quarter. FDx Advisors Inc. now owns 6,731 shares of the insurance provider’s stock valued at $436,000 after acquiring an additional 617 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in First American Financial during the first quarter valued at $258,000. Versor Investments LP grew its holdings in First American Financial by 9.2% during the first quarter. Versor Investments LP now owns 8,732 shares of the insurance provider’s stock valued at $566,000 after purchasing an additional 732 shares during the period. Finally, Formidable Asset Management LLC grew its position in shares of First American Financial by 6.6% in the first quarter. Formidable Asset Management LLC now owns 4,759 shares of the insurance provider’s stock valued at $308,000 after purchasing an additional 296 shares in the last quarter. 87.23% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Up 0.9 %

First American Financial stock opened at $53.05 on Monday. The company has a market capitalization of $5.49 billion, a P/E ratio of 12.51 and a beta of 1.22. The stock’s 50 day moving average is $48.92 and its 200 day moving average is $53.67. First American Financial Co. has a twelve month low of $43.54 and a twelve month high of $81.54.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 8th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $2.08 annualized dividend and a dividend yield of 3.92%. First American Financial’s payout ratio is currently 49.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TheStreet cut First American Financial from a “b-” rating to a “c+” rating in a report on Friday, September 30th. StockNews.com started coverage on First American Financial in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Truist Financial reduced their target price on First American Financial from $77.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, October 17th. Finally, Barclays reduced their target price on First American Financial from $83.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, October 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.88.

About First American Financial

(Get Rating)

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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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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