Mutual of America Capital Management LLC Trims Stake in First American Financial Co. (NYSE:FAF)

Mutual of America Capital Management LLC cut its position in First American Financial Co. (NYSE:FAF) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,411 shares of the insurance provider’s stock after selling 1,196 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of First American Financial worth $3,397,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake in shares of First American Financial by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock worth $84,000 after buying an additional 173 shares during the period. QRG Capital Management Inc. increased its holdings in shares of First American Financial by 4.4% in the fourth quarter. QRG Capital Management Inc. now owns 35,370 shares of the insurance provider’s stock valued at $2,208,000 after purchasing an additional 1,506 shares during the period. Versor Investments LP purchased a new stake in shares of First American Financial during the fourth quarter worth approximately $254,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of First American Financial by 15.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,568 shares of the insurance provider’s stock worth $1,284,000 after purchasing an additional 2,784 shares during the period. Finally, First Bank & Trust purchased a new position in First American Financial in the 4th quarter valued at $207,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stephens raised their target price on shares of First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $74.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price of $74.50.

Insider Buying and Selling

In other news, CFO Mark Edward Seaton sold 12,679 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $64.28, for a total value of $815,006.12. Following the completion of the transaction, the chief financial officer now directly owns 195,812 shares of the company’s stock, valued at $12,586,795.36. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dennis J. Gilmore sold 111,971 shares of the stock in a transaction on 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 sale, the director now directly owns 494,574 shares in the company, valued at approximately $31,454,906.40. The trade was a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,707 shares of company stock worth $8,136,565 in the last three months. Corporate insiders own 3.70% of the company’s stock.

First American Financial Stock Performance

Shares of NYSE FAF opened at $63.90 on Friday. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The firm has a market capitalization of $6.57 billion, a P/E ratio of 51.12 and a beta of 1.34. The company’s fifty day moving average is $62.71 and its two-hundred day moving average is $64.29.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. On average, sell-side analysts forecast that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, March 10th. First American Financial’s dividend payout ratio (DPR) is presently 172.80%.

First American Financial 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.