First American Financial Co. (NYSE:FAF) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in shares of First American Financial Co. (NYSE:FAF) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,492 shares of the insurance provider’s stock after selling 457 shares during the quarter. Federated Hermes Inc.’s holdings in First American Financial were worth $655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of First American Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,625,017 shares of the insurance provider’s stock valued at $663,426,000 after purchasing an additional 107,925 shares during the period. Victory Capital Management Inc. lifted its holdings in First American Financial by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,573,788 shares of the insurance provider’s stock valued at $160,707,000 after acquiring an additional 78,022 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of First American Financial by 19.8% during the 4th quarter. Wellington Management Group LLP now owns 1,735,557 shares of the insurance provider’s stock valued at $108,368,000 after purchasing an additional 286,711 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of First American Financial by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider’s stock worth $112,306,000 after purchasing an additional 12,668 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings 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 in the last quarter. Institutional investors own 89.05% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Lisa W. Cornehl sold 3,057 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total value of $200,202.93. Following the transaction, the senior vice president now directly owns 23,825 shares of the company’s stock, valued at approximately $1,560,299.25. This represents a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Edward Seaton sold 12,679 shares of the 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 sale, the chief financial officer now owns 195,812 shares of the company’s stock, valued at approximately $12,586,795.36. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,707 shares of company stock worth $8,136,565. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FAF has been the subject of a number of research reports. 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 report on Friday, February 14th. Keefe, Bruyette & Woods raised First American Financial from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Tuesday, April 8th.

First American Financial Price Performance

First American Financial stock opened at $58.96 on Thursday. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92. The firm’s 50 day simple moving average is $63.44 and its 200-day simple moving average is $63.99. The company has a market cap of $6.08 billion, a P/E ratio of 47.17 and a beta of 1.23.

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

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.66%. The ex-dividend date was Monday, March 10th. First American Financial’s dividend 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.