First American Financial Co. (NYSE:FAF) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in First American Financial Co. (NYSE:FAF) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,593 shares of the insurance provider’s stock after selling 3,812 shares during the period. Envestnet Asset Management Inc. owned 0.12% of First American Financial worth $8,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its stake in First American Financial by 14.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock worth $84,000 after purchasing an additional 173 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of First American Financial by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 3,247 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 179 shares during the last quarter. UMB Bank n.a. lifted its position in First American Financial by 66.9% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock worth $33,000 after buying an additional 210 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in First American Financial by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider’s stock worth $94,000 after buying an additional 230 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in First American Financial by 57.6% in the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider’s stock valued at $42,000 after buying an additional 245 shares in the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First American Financial

In related news, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total value of $200,202.93. Following the completion of the transaction, the senior vice president now owns 23,825 shares in the company, valued at approximately $1,560,299.25. The trade was a 11.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dennis J. Gilmore sold 111,971 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the completion of the transaction, the director now directly owns 494,574 shares of the company’s stock, valued at $31,454,906.40. This represents a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,707 shares of company stock worth $8,136,565 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

FAF has been the topic of several analyst reports. Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Tuesday, April 8th. Stephens lifted their target price on shares of First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th.

First American Financial Stock Up 0.5 %

Shares of First American Financial stock opened at $59.24 on Friday. The business’s fifty day simple moving average is $63.27 and its 200-day simple moving average is $63.88. The firm has a market cap of $6.11 billion, a PE ratio of 47.39 and a beta of 1.23. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. As a group, equities analysts expect that First American Financial Co. will post 5.35 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, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Monday, March 10th. First American Financial’s dividend payout ratio (DPR) is 172.80%.

First American Financial Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.