First American Financial Corporation $FAF Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. cut its position in shares of First American Financial Corporation (NYSE:FAF) by 36.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,223 shares of the insurance provider’s stock after selling 8,873 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in First American Financial were worth $978,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of FAF. Boston Partners grew its holdings in First American Financial by 20.0% during the second quarter. Boston Partners now owns 5,632,945 shares of the insurance provider’s stock worth $345,971,000 after acquiring an additional 940,687 shares during the period. Reinhart Partners LLC. raised its holdings in shares of First American Financial by 31.3% in the 3rd quarter. Reinhart Partners LLC. now owns 1,598,007 shares of the insurance provider’s stock worth $102,657,000 after purchasing an additional 380,744 shares in the last quarter. Channing Capital Management LLC lifted its stake in First American Financial by 16.9% during the third quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider’s stock valued at $99,430,000 after purchasing an additional 224,277 shares during the last quarter. Norges Bank bought a new stake in First American Financial during the second quarter worth approximately $77,143,000. Finally, Corient Private Wealth LLC grew its position in First American Financial by 5.8% in the second quarter. Corient Private Wealth LLC now owns 815,810 shares of the insurance provider’s stock worth $50,063,000 after buying an additional 44,749 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director Parker S. Kennedy bought 44,841 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the transaction, 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 legal filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Barclays lifted their price target on First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Wall Street Zen downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Finally, Truist Financial upped their target price on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.67.

First American Financial Stock Performance

Shares of NYSE FAF opened at $67.62 on Thursday. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.70 and a beta of 1.27. The business’s 50-day simple moving average is $63.60 and its 200-day simple moving average is $63.87. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $68.75.

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

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors 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 dividend yield of 3.3%. The ex-dividend date is Monday, March 9th. First American Financial’s dividend payout ratio is presently 36.61%.

First American Financial Profile

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.