Rhumbline Advisers reduced its holdings in shares of First American Financial Co. (NYSE:FAF – Free Report) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 280,619 shares of the insurance provider’s stock after selling 3,216 shares during the quarter. Rhumbline Advisers’ holdings in First American Financial were worth $17,522,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of FAF. Victory Capital Management Inc. raised its stake in shares of First American Financial by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock worth $164,746,000 after purchasing an additional 405,146 shares during the period. Geode Capital Management LLC grew its position in First American Financial by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider’s stock valued at $112,306,000 after buying an additional 12,668 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in First American Financial by 2.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,530,977 shares of the insurance provider’s stock worth $95,594,000 after buying an additional 37,866 shares during the last quarter. Wellington Management Group LLP bought a new stake in First American Financial in the third quarter worth about $95,638,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in First American Financial by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,145 shares of the insurance provider’s stock valued at $73,809,000 after acquiring an additional 8,315 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on FAF. Stephens raised their price target on shares of First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods increased their price objective on First American Financial from $74.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday. Barclays boosted their target price on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Truist Financial increased their price target on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and a consensus target price of $74.50.
Read Our Latest Stock Report on FAF
Insiders Place Their Bets
In other news, Director Dennis J. Gilmore sold 111,971 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the sale, the director now directly owns 494,574 shares in the company, valued at $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is owned by corporate insiders.
First American Financial Trading Up 0.4 %
Shares of FAF stock opened at $63.44 on Friday. The firm’s 50 day moving average is $62.52 and its 200 day moving average is $64.04. The stock has a market capitalization of $6.53 billion, a P/E ratio of 50.75 and a beta of 1.33. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92.
First American Financial (NYSE:FAF – Get Free Report) last issued its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. On average, equities analysts predict that First American Financial Co. will post 5.35 EPS for the current year.
First American Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.54 per share. The ex-dividend date is Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.40%. First American Financial’s dividend payout ratio (DPR) is 172.80%.
First American Financial Company Profile
(Free Report)
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.
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