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

Fisher Asset Management LLC cut its holdings in First American Financial Corporation (NYSE:FAF) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 422,075 shares of the insurance provider’s stock after selling 36,826 shares during the quarter. Fisher Asset Management LLC owned approximately 0.41% of First American Financial worth $27,114,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Boston Partners increased its position in First American Financial by 20.0% during the 2nd quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after purchasing an additional 940,687 shares in the last quarter. Reinhart Partners LLC. grew its holdings in shares of First American Financial by 31.3% during the third quarter. Reinhart Partners LLC. now owns 1,598,007 shares of the insurance provider’s stock worth $102,657,000 after buying an additional 380,744 shares in the last quarter. Channing Capital Management LLC grew its holdings in shares of First American Financial by 16.9% during the third quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider’s stock worth $99,430,000 after buying an additional 224,277 shares in the last quarter. Norges Bank acquired a new position in shares of First American Financial in the second quarter valued at approximately $77,143,000. Finally, Corient Private Wealth LLC grew its stake in First American Financial by 5.8% in the 2nd quarter. Corient Private Wealth LLC now owns 815,810 shares of the insurance provider’s stock worth $50,063,000 after acquiring an additional 44,749 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Barclays increased their price target on shares of 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. 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. Stephens raised First American Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $81.00 in a research report on Monday. Finally, Truist Financial boosted their price target on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.50.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $69.89 on Wednesday. The business’s 50-day simple moving average is $64.18 and its 200 day simple moving average is $64.00. The company has a market cap of $7.12 billion, a P/E ratio of 11.63, a PEG ratio of 0.73 and a beta of 1.25. 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 issued its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $1.35 earnings per share. First American Financial’s revenue for the quarter was up 21.6% on a year-over-year basis. Analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

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 paid a $0.55 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.20 annualized dividend and a dividend yield of 3.1%. First American Financial’s payout ratio is 36.61%.

Insider Buying and Selling

In other First American Financial news, Director Parker S. Kennedy acquired 44,841 shares of the stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the purchase, the director directly owned 251,552 shares in the company, valued at $17,067,803.20. This trade represents a 21.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.