OppenheimerFunds Inc. trimmed its position in First American Financial Corp (NYSE:FAF) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 29,703 shares of the insurance provider’s stock after selling 1,173 shares during the quarter. OppenheimerFunds Inc.’s holdings in First American Financial were worth $1,665,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Cerebellum GP LLC acquired a new position in First American Financial in the fourth quarter worth about $129,000. Round Table Services LLC acquired a new position in First American Financial in the fourth quarter worth about $210,000. Macquarie Group Ltd. acquired a new position in First American Financial in the third quarter worth about $190,000. Greenleaf Trust acquired a new position in First American Financial in the fourth quarter worth about $215,000. Finally, Doyle Wealth Management acquired a new position in First American Financial in the fourth quarter worth about $218,000. Institutional investors and hedge funds own 84.91% of the company’s stock.
First American Financial Corp (NYSE FAF) opened at $59.61 on Wednesday. First American Financial Corp has a 52 week low of $37.51 and a 52 week high of $62.71. The company has a market capitalization of $6,522.24, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 1.02 and a beta of 0.79.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.55%. First American Financial’s payout ratio is currently 40.43%.
A number of research firms recently commented on FAF. Barclays decreased their price target on First American Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. ValuEngine upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. Finally, Zacks Investment Research upgraded First American Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, December 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.33.
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First American Financial Company 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.
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