Rhumbline Advisers Sells 3,216 Shares of First American Financial Co. (NYSE:FAF)

Rhumbline Advisers trimmed its stake in First American Financial Co. (NYSE:FAF) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,619 shares of the insurance provider’s stock after selling 3,216 shares during the period. Rhumbline Advisers owned about 0.27% of First American Financial worth $17,522,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FAF. Vaughan Nelson Investment Management L.P. lifted its position in shares of First American Financial by 2.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,530,977 shares of the insurance provider’s stock worth $95,594,000 after purchasing an additional 37,866 shares during the period. Entropy Technologies LP bought a new position in First American Financial during the fourth quarter worth $593,000. Empowered Funds LLC lifted its holdings in First American Financial by 6.7% in the fourth quarter. Empowered Funds LLC now owns 4,076 shares of the insurance provider’s stock valued at $255,000 after buying an additional 256 shares during the period. Lecap Asset Management Ltd. bought a new stake in First American Financial during the fourth quarter valued at $453,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in First American Financial during the 4th quarter worth about $1,106,000. 89.05% of the stock is owned by institutional investors.

Insider Buying and Selling at First American Financial

In other news, Director Dennis J. Gilmore sold 111,971 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $63.60, for a total value of $7,121,355.60. Following the completion of the sale, the director now owns 494,574 shares in the company, valued at $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

FAF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on First American Financial from $74.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday. Truist Financial lifted their price target on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Stephens upped their price target on First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Barclays boosted their price objective on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

First American Financial Price Performance

FAF opened at $63.44 on Friday. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92. The firm has a market capitalization of $6.53 billion, a PE ratio of 50.75 and a beta of 1.33. The company’s 50-day moving average is $62.52 and its 200 day moving average is $64.04.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. As a group, analysts expect that First American Financial Co. will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Monday, March 10th. First American Financial’s payout ratio is currently 172.80%.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.