First American Financial Corporation $FAF Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in First American Financial Corporation (NYSE:FAF) by 8.0% in the third quarter, Holdings Channel reports. The firm owned 422,075 shares of the insurance provider’s stock after selling 36,826 shares during the quarter. Fisher Asset Management LLC’s holdings in First American Financial were worth $27,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FAF. SJS Investment Consulting Inc. lifted its holdings in First American Financial by 2,887.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after buying an additional 462 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in First American Financial during the second quarter worth $35,000. Atlantic Union Bankshares Corp bought a new position in First American Financial during the second quarter worth $36,000. First Horizon Corp bought a new position in First American Financial during the third quarter worth $37,000. Finally, Tripletail Wealth Management LLC acquired a new position in First American Financial in the third quarter worth $41,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $69.89 on Wednesday. The company has a market capitalization of $7.12 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.73 and a beta of 1.25. The stock has a fifty day moving average of $64.18 and a 200-day moving average of $64.00. First American Financial Corporation has a one year low of $53.09 and a one year high of $71.47.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business earned $1.35 earnings per share. The firm’s revenue was up 21.6% compared to the same quarter last year. As a group, research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, March 9th. First American Financial’s payout ratio is presently 36.61%.

Wall Street Analysts Forecast Growth

FAF has been the subject of a number of recent research reports. Stephens raised shares of First American Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $81.00 in a research report on Monday. Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Truist Financial increased their target price on First American Financial from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Barclays boosted their price target on shares of First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Insider Transactions at First American Financial

In other First American Financial news, Director Parker S. Kennedy acquired 44,841 shares of First American Financial stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the purchase, the director owned 251,552 shares in the company, valued at approximately $17,067,803.20. The trade was a 21.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

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.