Legal & General Group Plc cut its position in First American Financial Corporation (NYSE:FAF – Free Report) by 18.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 168,782 shares of the insurance provider’s stock after selling 37,240 shares during the quarter. Legal & General Group Plc’s holdings in First American Financial were worth $10,370,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of FAF. Northwestern Mutual Wealth Management Co. grew its stake in First American Financial by 4,485,375.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after buying an additional 5,786,134 shares during the last quarter. Capital Research Global Investors grew its stake in First American Financial by 194.5% in the 3rd quarter. Capital Research Global Investors now owns 3,306,583 shares of the insurance provider’s stock valued at $212,415,000 after buying an additional 2,183,960 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in First American Financial in the 4th quarter valued at $63,693,000. Boston Partners grew its position in First American Financial by 8.9% in the 3rd quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock worth $393,690,000 after purchasing an additional 500,649 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in First American Financial by 163.5% in the 3rd quarter. Two Sigma Investments LP now owns 467,823 shares of the insurance provider’s stock worth $30,053,000 after purchasing an additional 290,310 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have issued reports on FAF shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Truist Financial raised their price target on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Stephens raised their price objective on First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, First American Financial presently has a consensus rating of “Buy” and an average target price of $82.50.
Insider Transactions at First American Financial
In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the transaction, the senior vice president directly owned 29,635 shares in the company, valued at $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the transaction, the director owned 24,024 shares in the company, valued at approximately $1,695,854.16. This trade represents a 21.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by insiders.
First American Financial Stock Performance
Shares of First American Financial stock opened at $64.70 on Thursday. The firm’s 50-day simple moving average is $65.39 and its 200-day simple moving average is $64.57. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $71.47. The firm has a market cap of $6.59 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 0.63 and a beta of 1.24.
First American Financial (NYSE:FAF – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.27. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. On average, equities analysts forecast that First American Financial Corporation will post 6.81 earnings per share for the current fiscal year.
First American Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.55 dividend. The ex-dividend date is Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. First American Financial’s payout ratio is 33.79%.
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.
Featured Articles
- Five stocks we like better than First American Financial
- Coke’s $10B India IPO Plan Pops the Top on Hidden Value
- FedEx Unboxes Billions in Post-Spinoff Value
- Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow
- Palo Alto Networks Accelerates Growth 31% on AI Demand
Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Financial Corporation (NYSE:FAF – Free Report).
Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.
