Wells Fargo & Company MN cut its position in First American Financial Corp. (NYSE:FAF) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,556 shares of the company’s stock after selling 497 shares during the period. Wells Fargo & Company MN owned about 0.27% of First American Financial Corp. worth $11,609,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of First American Financial Corp. by 6.0% in the second quarter. Principal Financial Group Inc. now owns 696,250 shares of the company’s stock worth $28,003,000 after buying an additional 39,338 shares in the last quarter. Ngam Advisors L.P. raised its stake in shares of First American Financial Corp. by 0.7% in the second quarter. Ngam Advisors L.P. now owns 370,586 shares of the company’s stock worth $14,905,000 after buying an additional 2,552 shares in the last quarter. Three Corner Global Investors LP acquired a new stake in shares of First American Financial Corp. during the second quarter worth approximately $13,687,000. James Investment Research Inc. raised its stake in shares of First American Financial Corp. by 0.5% in the second quarter. James Investment Research Inc. now owns 7,887 shares of the company’s stock worth $317,000 after buying an additional 37 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of First American Financial Corp. by 0.5% in the second quarter. Retirement Systems of Alabama now owns 141,347 shares of the company’s stock worth $5,685,000 after buying an additional 685 shares in the last quarter. 86.01% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for First American Financial Corp. (NYSE:FAF)

First American Financial Corp. (NYSE:FAF) traded down 3.31% during mid-day trading on Wednesday, reaching $38.30. 355,818 shares of the company’s stock traded hands. The company has a 50 day moving average price of $39.04 and a 200-day moving average price of $39.93. The stock has a market cap of $4.21 billion, a P/E ratio of 12.35 and a beta of 0.94. First American Financial Corp. has a 12 month low of $31.74 and a 12 month high of $43.55.

First American Financial Corp. (NYSE:FAF) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. First American Financial Corp. had a net margin of 6.33% and a return on equity of 11.83%. The business earned $1.51 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted $0.69 EPS. First American Financial Corp.’s revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that First American Financial Corp. will post $3.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 8th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.43%. The ex-dividend date is Tuesday, December 6th. First American Financial Corp.’s payout ratio is currently 44.01%.

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Separately, Zacks Investment Research raised shares of First American Financial Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, October 21st.

About First American Financial Corp.

First American Financial Corporation is a holding company. Through its subsidiaries, the Company is engaged in the business of providing financial services. The Company’s segments include Title Insurance and Services, Specialty Insurance and corporate function. The Company’s title insurance and services segment issues title insurance policies on residential and commercial property in the United States and offers similar or related products and services internationally.

5 Day Chart for NYSE:FAF

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