Y Intercept Hong Kong Ltd Sells 20,554 Shares of First American Financial Corporation $FAF

Y Intercept Hong Kong Ltd trimmed its position in shares of First American Financial Corporation (NYSE:FAF) by 51.3% during the first quarter, Holdings Channel.com reports. The fund owned 19,487 shares of the insurance provider’s stock after selling 20,554 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in First American Financial were worth $1,175,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FAF. Northwestern Mutual Wealth Management Co. lifted its position in shares of First American Financial by 4,485,375.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after purchasing an additional 5,786,134 shares in the last quarter. Norges Bank bought a new stake in First American Financial in the 4th quarter worth about $75,011,000. Manning & Napier Advisors LLC purchased a new stake in First American Financial in the 4th quarter valued at about $63,693,000. Boston Partners increased its stake in First American Financial by 8.9% in the 3rd quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after buying an additional 500,649 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of First American Financial by 88.0% during the 4th quarter. AQR Capital Management LLC now owns 1,037,854 shares of the insurance provider’s stock worth $63,766,000 after buying an additional 485,731 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the sale, the senior vice president owned 29,635 shares of the company’s stock, valued at approximately $2,033,850.05. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Margaret M. Mccarthy sold 6,630 shares of First American Financial stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $70.59, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by corporate insiders.

First American Financial Stock Performance

FAF traded down $0.97 during midday trading on Friday, reaching $69.29. The company had a trading volume of 700,734 shares, compared to its average volume of 999,516. First American Financial Corporation has a 12-month low of $54.19 and a 12-month high of $71.93. The business has a 50-day moving average price of $67.87 and a two-hundred day moving average price of $65.29. The stock has a market cap of $7.06 billion, a PE ratio of 10.64, a P/E/G ratio of 0.67 and a beta of 1.23.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.27. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. First American Financial’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, research analysts anticipate that First American Financial Corporation will post 6.75 earnings per share for the current year.

First American Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FAF shares. Stephens restated an “overweight” rating and issued a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods dropped their price target on First American Financial from $87.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Barclays boosted their price objective on First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Zacks Research downgraded First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Truist Financial raised their target price on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

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.