Amundi Decreases Stock Holdings in First American Financial Corporation $FAF

Amundi cut its holdings in First American Financial Corporation (NYSE:FAF) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,603 shares of the insurance provider’s stock after selling 458 shares during the quarter. Amundi’s holdings in First American Financial were worth $1,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAF. Captrust Financial Advisors grew its position in shares of First American Financial by 6.4% in the 4th quarter. Captrust Financial Advisors now owns 7,372 shares of the insurance provider’s stock worth $460,000 after buying an additional 442 shares during the period. Focus Partners Wealth purchased a new stake in shares of First American Financial in the 4th quarter worth about $240,000. Jefferies Financial Group Inc. purchased a new stake in shares of First American Financial in the 4th quarter worth about $385,000. Occudo Quantitative Strategies LP purchased a new stake in shares of First American Financial in the 4th quarter worth about $242,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of First American Financial in the 4th quarter worth about $853,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FAF has been the topic of a number of recent research reports. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Barclays reduced their target price on shares of First American Financial from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Insider Transactions at First American Financial

In related news, Director Margaret M. Mccarthy sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total value of $229,705.00. Following the completion of the sale, the director directly owned 28,095 shares of the company’s stock, valued at approximately $1,843,874.85. This represents a 11.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

First American Financial Stock Down 0.7%

Shares of NYSE:FAF opened at $67.57 on Friday. The firm’s 50 day moving average price is $62.56 and its 200-day moving average price is $61.40. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $70.92. The stock has a market capitalization of $6.88 billion, a PE ratio of 37.33 and a beta of 1.27.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.13. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.27 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.20 annualized dividend and a yield of 3.3%. This is a positive change from First American Financial’s previous quarterly dividend of $0.54. First American Financial’s payout ratio is currently 119.34%.

First American Financial announced that its board has initiated a stock buyback program on Wednesday, July 23rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the insurance provider to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

First American Financial Company 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.