First American Financial Corporation $FAF Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in shares of First American Financial Corporation (NYSE:FAF) by 50.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,697 shares of the insurance provider’s stock after selling 12,948 shares during the quarter. Intech Investment Management LLC’s holdings in First American Financial were worth $816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FAF. US Bancorp DE grew its position in shares of First American Financial by 656.0% in the third quarter. US Bancorp DE now owns 32,666 shares of the insurance provider’s stock valued at $2,098,000 after purchasing an additional 28,345 shares during the last quarter. Dana Investment Advisors Inc. increased its stake in shares of First American Financial by 12.0% during the 3rd 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 in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of First American Financial by 50.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the insurance provider’s stock worth $88,000 after purchasing an additional 457 shares during the last quarter. Trajan Wealth LLC acquired a new position in shares of First American Financial during the 3rd quarter worth approximately $202,000. Finally, Clearstead Advisors LLC lifted its stake in First American Financial by 33.0% in the 3rd quarter. Clearstead Advisors LLC now owns 859 shares of the insurance provider’s stock valued at $55,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of FAF opened at $66.32 on Tuesday. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $71.47. The company has a market capitalization of $6.76 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25. The stock has a fifty day moving average of $64.70 and a two-hundred day moving average of $64.10.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.50. The business 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 business’s revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.35 earnings per share. As a group, equities research analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is presently 36.61%.

Insider Transactions at First American Financial

In other First American Financial news, Director Parker S. Kennedy purchased 44,841 shares of the stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the acquisition, the director directly owned 251,552 shares of the company’s stock, valued at $17,067,803.20. This represents a 21.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Stephens upgraded First American Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $81.00 in a research report on Monday, March 2nd. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Finally, Barclays boosted their target price on shares of First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, First American Financial presently has an average rating of “Moderate Buy” and an average target price of $78.50.

About First American Financial

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.