Oak Thistle LLC Sells 19,430 Shares of First American Financial Corporation (NYSE:FAF)

Oak Thistle LLC lessened its position in shares of First American Financial Corporation (NYSE:FAFFree Report) by 82.2% in the first quarter, HoldingsChannel.com reports. The firm owned 4,216 shares of the insurance provider’s stock after selling 19,430 shares during the quarter. Oak Thistle LLC’s holdings in First American Financial were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in First American Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,625,017 shares of the insurance provider’s stock valued at $663,426,000 after purchasing an additional 107,925 shares during the period. FMR LLC increased its position in First American Financial by 20.8% during the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider’s stock valued at $377,559,000 after purchasing an additional 1,042,145 shares during the period. Ariel Investments LLC increased its position in First American Financial by 9.9% during the 4th quarter. Ariel Investments LLC now owns 3,993,155 shares of the insurance provider’s stock valued at $249,333,000 after purchasing an additional 359,777 shares during the period. Dimensional Fund Advisors LP increased its position in First American Financial by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,963,516 shares of the insurance provider’s stock valued at $247,481,000 after purchasing an additional 129,863 shares during the period. Finally, Wellington Management Group LLP increased its position in First American Financial by 19.8% during the 4th quarter. Wellington Management Group LLP now owns 1,735,557 shares of the insurance provider’s stock valued at $108,368,000 after purchasing an additional 286,711 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Up 1.5%

Shares of FAF stock opened at $60.52 on Friday. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 33.43 and a beta of 1.24. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $70.92. The firm has a 50 day moving average of $58.15 and a 200-day moving average of $60.91.

First American Financial (NYSE:FAFGet Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.40 by $0.13. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. First American Financial had a net margin of 2.90% and a return on equity of 10.42%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 EPS. Analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial announced that its board has initiated a stock repurchase plan on Wednesday, July 23rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, June 9th. First American Financial’s payout ratio is currently 143.05%.

Wall Street Analyst Weigh In

FAF has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Barclays decreased their target price on shares of First American Financial from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.50.

Read Our Latest Analysis on FAF

First American Financial Company Profile

(Free Report)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.

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

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