New York State Common Retirement Fund Sells 2,739 Shares of First American Financial Corporation (NYSE:FAF)

New York State Common Retirement Fund lessened its position in shares of First American Financial Corporation (NYSE:FAF) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,725 shares of the insurance provider’s stock after selling 2,739 shares during the period. New York State Common Retirement Fund owned 0.10% of First American Financial worth $6,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alpine Bank Wealth Management bought a new stake in shares of First American Financial during the first quarter worth about $28,000. Richardson Capital Management LLC bought a new stake in shares of First American Financial during the first quarter worth about $39,000. Versant Capital Management Inc increased its position in shares of First American Financial by 645.7% during the first quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 833 shares in the last quarter. UMB Bank n.a. boosted its holdings in First American Financial by 132.1% during the first quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider’s stock worth $80,000 after purchasing an additional 692 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 256 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Up 0.2%

First American Financial stock opened at $56.31 on Monday. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $70.92. The firm has a 50 day moving average price of $58.33 and a 200-day moving average price of $61.00. The company has a market capitalization of $5.79 billion, a P/E ratio of 37.29 and a beta of 1.24.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.65 by $0.19. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. First American Financial had a net margin of 2.52% and a return on equity of 10.05%. First American Financial’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. Equities analysts expect that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.84%. The ex-dividend date was Monday, June 9th. First American Financial’s payout ratio is 143.05%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Finally, Barclays cut their price target on shares of First American Financial from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.50.

About First American Financial

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.