Allspring Global Investments Holdings LLC Sells 11,041 Shares of First American Financial Corporation $FAF

Allspring Global Investments Holdings LLC cut its stake in shares of First American Financial Corporation (NYSE:FAF) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,958 shares of the insurance provider’s stock after selling 11,041 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.17% of First American Financial worth $10,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in FAF. Jones Financial Companies Lllp boosted its stake in shares of First American Financial by 121.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 813 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in First American Financial by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock worth $19,233,000 after purchasing an additional 28,666 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in First American Financial by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock valued at $27,180,000 after acquiring an additional 27,600 shares during the period. Jane Street Group LLC lifted its holdings in shares of First American Financial by 182.5% during the first quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock valued at $4,435,000 after purchasing an additional 43,651 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in First American Financial by 11.3% in the first quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Trading Down 0.0%

FAF stock opened at $58.20 on Monday. The stock has a market cap of $5.95 billion, a PE ratio of 9.68, a P/E/G ratio of 0.60 and a beta of 1.28. The company has a 50-day moving average price of $64.47 and a 200 day moving average price of $63.36. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $71.47.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.50. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business posted $1.35 earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. Sell-side analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is presently 36.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FAF. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Truist Financial increased their price objective on shares of First American Financial from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Stephens raised First American Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $81.00 in a research note on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, First American Financial has an average rating of “Moderate Buy” and a consensus target price of $78.50.

Insider Activity at First American Financial

In other First American Financial news, Director Parker S. Kennedy bought 44,841 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the acquisition, the director directly owned 251,552 shares in the company, valued at approximately $17,067,803.20. The trade was a 21.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

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.