Principal Financial Group Inc. raised its stake in First American Corporation (The) (NYSE:FAF) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 470,446 shares of the insurance provider’s stock after purchasing an additional 18,622 shares during the period. Principal Financial Group Inc. owned 0.42% of First American Corporation (The) worth $21,025,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning grew its stake in shares of First American Corporation (The) by 5.3% in the second quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 114 shares in the last quarter. First Bank & Trust grew its stake in shares of First American Corporation (The) by 46.6% in the second quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock valued at $117,000 after acquiring an additional 833 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of First American Corporation (The) by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 2,960 shares of the insurance provider’s stock valued at $116,000 after acquiring an additional 80 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First American Corporation (The) by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock valued at $170,000 after acquiring an additional 298 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of First American Corporation (The) in the first quarter valued at about $169,000. Hedge funds and other institutional investors own 83.16% of the company’s stock.

Shares of First American Corporation (FAF) opened at 49.25 on Thursday. The company’s 50-day moving average is $48.28 and its 200 day moving average is $43.44. The company has a market cap of $5.45 billion, a PE ratio of 14.93 and a beta of 0.72. First American Corporation has a 52-week low of $35.28 and a 52-week high of $49.57.

First American Corporation (The) (NYSE:FAF) last announced its quarterly earnings data on Thursday, July 27th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. First American Corporation (The) had a return on equity of 12.22% and a net margin of 6.38%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that First American Corporation will post $3.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 3.09%. This is a positive change from First American Corporation (The)’s previous quarterly dividend of $0.34. First American Corporation (The)’s dividend payout ratio (DPR) is 46.06%.

Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a research note on Monday, July 31st. BidaskClub upgraded shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th.

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In related news, CFO Mark Edward Seaton sold 7,000 shares of First American Corporation (The) stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $48.33, for a total value of $338,310.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

First American Corporation (The) Profile

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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