Fisher Asset Management LLC Sells 29,799 Shares of First American Financial Corporation $FAF

Fisher Asset Management LLC trimmed its position in shares of First American Financial Corporation (NYSE:FAF) by 7.1% during the 4th quarter, Holdings Channel reports. The firm owned 392,276 shares of the insurance provider’s stock after selling 29,799 shares during the period. Fisher Asset Management LLC’s holdings in First American Financial were worth $24,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FAF. V Square Quantitative Management LLC bought a new stake in First American Financial in the 4th quarter valued at $27,000. Global Retirement Partners LLC increased its holdings in First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 443 shares during the last quarter. Danske Bank A S bought a new stake in First American Financial in the 3rd quarter valued at $45,000. IFP Advisors Inc increased its holdings in First American Financial by 568.8% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 637 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in First American Financial in the 3rd quarter valued at $52,000. 89.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FAF has been the topic of a number of research reports. Barclays lifted their price target on shares of First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Truist Financial lifted their price target on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, April 24th. Stephens lifted their price target on shares of First American Financial from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $82.50.

First American Financial Stock Down 0.0%

First American Financial stock opened at $68.17 on Wednesday. The company’s 50-day moving average price is $64.88 and its 200-day moving average price is $64.45. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $71.47. The company has a market cap of $6.95 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 0.65 and a beta of 1.28.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.27. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $0.84 EPS. The business’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, sell-side analysts expect that First American Financial Corporation will post 6.83 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. First American Financial’s payout ratio is currently 33.79%.

Insider Transactions at First American Financial

In related news, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the completion of the transaction, the senior vice president directly owned 29,635 shares of the company’s stock, valued at approximately $2,033,850.05. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the sale, the director directly owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. This trade represents a 21.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

First American Financial Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.