Retirement Systems of Alabama Acquires 515 Shares of First American Financial Co. (NYSE:FAF)

Retirement Systems of Alabama lifted its holdings in shares of First American Financial Co. (NYSE:FAF) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,229 shares of the insurance provider’s stock after purchasing an additional 515 shares during the period. Retirement Systems of Alabama owned about 0.13% of First American Financial worth $8,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in First American Financial in the fourth quarter worth about $33,000. Headlands Technologies LLC purchased a new position in First American Financial in the fourth quarter valued at approximately $44,000. Chilton Capital Management LLC bought a new position in First American Financial during the fourth quarter valued at $64,000. International Assets Investment Management LLC purchased a new stake in First American Financial in the fourth quarter worth $87,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of First American Financial in the third quarter valued at $216,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Up 0.5 %

NYSE:FAF opened at $54.38 on Friday. The stock has a market cap of $5.64 billion, a P/E ratio of 26.02 and a beta of 1.28. The business’s 50-day moving average price is $57.10 and its two-hundred day moving average price is $58.29. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $65.54.

First American Financial (NYSE:FAF) last announced its earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. First American Financial had a net margin of 3.64% and a return on equity of 8.17%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities research analysts expect that First American Financial Co. will post 4.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FAF shares. Stephens reiterated an “overweight” rating and set a $72.00 price target on shares of First American Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $66.00 to $69.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First American Financial in a report on Wednesday, January 10th. They issued a “buy” rating for the company. Finally, TheStreet downgraded First American Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and an average target price of $67.75.

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.