Shelton Capital Management decreased its holdings in First American Financial Co. (NYSE:FAF – Free Report) by 4.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,104 shares of the insurance provider’s stock after selling 229 shares during the period. Shelton Capital Management’s holdings in First American Financial were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new position in First American Financial in the second quarter valued at about $36,000. Ellevest Inc. grew its holdings in First American Financial by 76.1% in the first quarter. Ellevest Inc. now owns 745 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 322 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of First American Financial during the first quarter worth $46,000. Industrial Alliance Investment Management Inc. grew its holdings in shares of First American Financial by 161.3% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock valued at $48,000 after buying an additional 571 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of First American Financial in the 1st quarter valued at $55,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Wall Street Analysts Forecast Growth
FAF has been the topic of several research analyst reports. StockNews.com downgraded First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Barclays began coverage on shares of First American Financial in a report on Wednesday, November 15th. They issued an “equal weight” rating and a $53.00 price target on the stock. Stephens restated an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a research note on Wednesday, October 11th. Finally, Truist Financial increased their price objective on shares of First American Financial from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.75.
Insider Transactions at First American Financial
In other news, CAO Steven A. Adams sold 1,800 shares of First American Financial stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.20, for a total value of $101,160.00. Following the completion of the transaction, the chief accounting officer now owns 7,487 shares in the company, valued at approximately $420,769.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.
First American Financial Stock Up 1.0 %
NYSE:FAF opened at $57.45 on Tuesday. First American Financial Co. has a 52 week low of $49.55 and a 52 week high of $64.66. The stock’s fifty day moving average is $54.90 and its two-hundred day moving average is $57.25. The company has a market capitalization of $5.93 billion, a P/E ratio of 25.31 and a beta of 1.25.
First American Financial (NYSE:FAF – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.60 billion. First American Financial had a return on equity of 9.82% and a net margin of 3.78%. The company’s revenue was down 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 earnings per share. Sell-side analysts anticipate that First American Financial Co. will post 4.23 earnings per share for the current fiscal year.
First American Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 8th will be given a $0.53 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.12 annualized dividend and a yield of 3.69%. First American Financial’s dividend payout ratio is presently 93.39%.
First American Financial Company Profile
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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