Brandywine Global Investment Management LLC trimmed its holdings in shares of First American Financial Corp (NYSE:FAF) by 14.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 210,998 shares of the insurance provider’s stock after selling 35,911 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.19% of First American Financial worth $11,825,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $129,000. Round Table Services LLC purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $210,000. Macquarie Group Ltd. purchased a new position in shares of First American Financial during the third quarter valued at approximately $190,000. Greenleaf Trust purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $215,000. Finally, Doyle Wealth Management purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $218,000. Hedge funds and other institutional investors own 84.91% of the company’s stock.
FAF has been the subject of several recent research reports. ValuEngine upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stephens upgraded shares of First American Financial from an “equal” rating to a “weight” rating in a report on Monday, January 8th. Barclays lowered their target price on shares of First American Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Finally, Zacks Investment Research lowered shares of First American Financial from a “buy” rating to a “hold” rating in a report on Friday, November 17th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $57.33.
First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. First American Financial had a net margin of 7.33% and a return on equity of 13.92%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. analysts forecast that First American Financial Corp will post 4.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 8th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.59%. First American Financial’s payout ratio is currently 55.27%.
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First American Financial Profile
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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