First American Financial Co. (NYSE:FAF) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its position in shares of First American Financial Co. (NYSE:FAF – Get Rating) by 17.7% in the first quarter, HoldingsChannel reports. The firm owned 21,979 shares of the insurance provider’s stock after selling 4,717 shares during the period. DekaBank Deutsche Girozentrale’s holdings in First American Financial were worth $1,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HG Vora Capital Management LLC raised its position in shares of First American Financial by 8.4% during the 4th quarter. HG Vora Capital Management LLC now owns 10,300,000 shares of the insurance provider’s stock worth $805,769,000 after buying an additional 800,000 shares in the last quarter. State Street Corp raised its position in shares of First American Financial by 2.3% during the 4th quarter. State Street Corp now owns 3,102,894 shares of the insurance provider’s stock worth $242,739,000 after buying an additional 68,969 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of First American Financial by 56.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,751,230 shares of the insurance provider’s stock worth $136,999,000 after buying an additional 634,833 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of First American Financial by 21.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,210,488 shares of the insurance provider’s stock worth $94,696,000 after buying an additional 212,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of First American Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 926,809 shares of the insurance provider’s stock worth $72,505,000 after buying an additional 13,302 shares in the last quarter. 84.95% of the stock is currently owned by institutional investors.

Insider Activity at First American Financial

In related news, COO Christopher Michael Leavell sold 39,206 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $59.61, for a total transaction of $2,337,069.66. Following the transaction, the chief operating officer now directly owns 166,465 shares of the company’s stock, valued at $9,922,978.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial dropped their price target on shares of First American Financial from $86.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. StockNews.com initiated coverage on shares of First American Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays dropped their target price on shares of First American Financial from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, July 11th. BTIG Research dropped their target price on shares of First American Financial from $81.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, July 8th. Finally, Credit Suisse Group downgraded shares of First American Financial from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $97.00 to $74.00 in a report on Friday, April 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and an average target price of $64.68.

First American Financial Price Performance

First American Financial stock opened at $55.86 on Friday. The firm’s 50 day simple moving average is $55.85 and its 200-day simple moving average is $63.49. The company has a market cap of $6.00 billion, a P/E ratio of 5.63 and a beta of 1.22. First American Financial Co. has a fifty-two week low of $48.81 and a fifty-two week high of $81.54.

First American Financial (NYSE:FAF – Get Rating) last released its earnings results on Thursday, April 28th. The insurance provider reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.04). The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.97 billion. First American Financial had a return on equity of 15.61% and a net margin of 11.98%. On average, analysts expect that First American Financial Co. will post 6.21 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 8th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, June 7th. First American Financial’s payout ratio is presently 20.54%.

First American Financial Company Profile

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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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