Andra AP fonden Trims Stake in First American Financial Corporation $FAF

Andra AP fonden lessened its holdings in First American Financial Corporation (NYSE:FAF) by 88.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,800 shares of the insurance provider’s stock after selling 29,814 shares during the period. Andra AP fonden’s holdings in First American Financial were worth $244,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Choreo LLC purchased a new stake in shares of First American Financial in the 3rd quarter valued at about $226,000. US Bancorp DE grew its holdings in shares of First American Financial by 656.0% during the third quarter. US Bancorp DE now owns 32,666 shares of the insurance provider’s stock worth $2,098,000 after purchasing an additional 28,345 shares in the last quarter. Dana Investment Advisors Inc. increased its position in shares of First American Financial by 12.0% in the third quarter. Dana Investment Advisors Inc. now owns 46,408 shares of the insurance provider’s stock worth $2,981,000 after purchasing an additional 4,964 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in First American Financial by 50.1% in the third quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the insurance provider’s stock valued at $88,000 after purchasing an additional 457 shares in the last quarter. Finally, Trajan Wealth LLC bought a new stake in First American Financial during the third quarter valued at approximately $202,000. Institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Keefe, Bruyette & Woods upped their target price on shares of First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Barclays lifted their price target on First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, First American Financial has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Insider Transactions at First American Financial

In other news, Director Parker S. Kennedy bought 44,841 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the purchase, the director owned 251,552 shares in the company, valued at approximately $17,067,803.20. This represents a 21.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

First American Financial Stock Up 2.7%

First American Financial stock opened at $70.15 on Monday. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $70.27. The company has a market capitalization of $7.15 billion, a P/E ratio of 11.67, a PEG ratio of 0.73 and a beta of 1.25. The stock’s 50 day moving average is $63.83 and its 200 day moving average is $63.93.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.50. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.80 billion. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, equities analysts expect that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is currently 36.61%.

First American Financial Company 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.