Vanguard Group Inc. raised its holdings in First American Corporation (The) (NYSE:FAF) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,333,287 shares of the insurance provider’s stock after acquiring an additional 53,168 shares during the quarter. Vanguard Group Inc. owned about 8.43% of First American Corporation (The) worth $417,104,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. RWWM Inc. bought a new position in First American Corporation (The) in the first quarter valued at approximately $606,000. Keybank National Association OH bought a new position in First American Corporation (The) in the second quarter valued at approximately $1,670,000. Meeder Asset Management Inc. bought a new position in First American Corporation (The) in the second quarter valued at approximately $618,000. BlackRock Inc. boosted its stake in First American Corporation (The) by 3,956.3% in the first quarter. BlackRock Inc. now owns 9,926,367 shares of the insurance provider’s stock valued at $389,909,000 after acquiring an additional 9,681,653 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in First American Corporation (The) by 6.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 494,766 shares of the insurance provider’s stock valued at $22,112,000 after acquiring an additional 28,135 shares during the last quarter. 83.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First American Corporation (NYSE FAF) opened at 49.93 on Friday. First American Corporation has a 12-month low of $35.28 and a 12-month high of $50.98. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 15.13 and a beta of 0.69. The firm has a 50-day moving average of $48.92 and a 200 day moving average of $44.72.

First American Corporation (The) (NYSE:FAF) last posted its earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.18. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts expect that First American Corporation will post $3.40 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were paid a $0.38 dividend. This is a positive change from First American Corporation (The)’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, September 7th. First American Corporation (The)’s dividend payout ratio is currently 46.06%.

In other news, CFO Mark Edward Seaton sold 7,000 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $48.33, for a total value of $338,310.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.10% of the company’s stock.

A number of equities analysts have issued reports on FAF shares. BidaskClub raised shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research note on Monday, July 31st.

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About First American Corporation (The)

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.

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

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