First American Corporation (The) (FAF) Position Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of First American Corporation (The) (NYSE:FAF) by 15.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 438,500 shares of the insurance provider’s stock after selling 80,000 shares during the period. Renaissance Technologies LLC owned 0.40% of First American Corporation (The) worth $19,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of First American Corporation (The) by 2.0% during the second quarter. BlackRock Inc. now owns 10,128,054 shares of the insurance provider’s stock valued at $452,623,000 after buying an additional 201,687 shares during the period. FMR LLC lifted its stake in shares of First American Corporation (The) by 7.6% during the second quarter. FMR LLC now owns 9,564,140 shares of the insurance provider’s stock valued at $427,422,000 after buying an additional 675,763 shares during the period. Vanguard Group Inc. lifted its stake in shares of First American Corporation (The) by 0.6% during the second quarter. Vanguard Group Inc. now owns 9,333,287 shares of the insurance provider’s stock valued at $417,104,000 after buying an additional 53,168 shares during the period. State Street Corp lifted its stake in shares of First American Corporation (The) by 3.7% during the first quarter. State Street Corp now owns 3,541,023 shares of the insurance provider’s stock valued at $139,091,000 after buying an additional 126,125 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of First American Corporation (The) during the second quarter valued at approximately $76,312,000. 83.15% of the stock is currently owned by institutional investors and hedge funds.

First American Corporation (NYSE FAF) opened at 50.09 on Friday. First American Corporation has a 52 week low of $35.28 and a 52 week high of $50.98. The company’s 50 day moving average is $49.16 and its 200 day moving average is $45.13. The stock has a market cap of $5.55 billion, a P/E ratio of 15.18 and a beta of 0.69.

First American Corporation (The) (NYSE:FAF) last released its earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.41 billion. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Equities analysts predict that First American Corporation will post $3.40 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a $0.38 dividend. This is an increase from First American Corporation (The)’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Thursday, September 7th. First American Corporation (The)’s dividend payout ratio (DPR) is 46.06%.

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In other news, CFO Mark Edward Seaton sold 7,000 shares of First American Corporation (The) stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $48.33, for a total value of $338,310.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

FAF has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of First American Corporation (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub raised shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th.

First American Corporation (The) Profile

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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

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