First American Financial Corporation (NYSE:FAF) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in First American Financial Corporation (NYSE:FAF) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,927 shares of the insurance provider’s stock after selling 1,982 shares during the quarter. Amalgamated Bank’s holdings in First American Financial were worth $3,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in First American Financial by 8,031.7% during the first quarter. GAMMA Investing LLC now owns 87,091 shares of the insurance provider’s stock worth $5,716,000 after acquiring an additional 86,020 shares during the last quarter. Bar Harbor Wealth Management increased its stake in First American Financial by 30.5% during the first quarter. Bar Harbor Wealth Management now owns 126,093 shares of the insurance provider’s stock worth $8,275,000 after acquiring an additional 29,466 shares during the last quarter. SG Americas Securities LLC acquired a new stake in First American Financial during the first quarter worth $829,000. Harbor Capital Advisors Inc. increased its stake in First American Financial by 24.1% during the first quarter. Harbor Capital Advisors Inc. now owns 107,397 shares of the insurance provider’s stock worth $7,048,000 after acquiring an additional 20,890 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in First American Financial during the fourth quarter worth $385,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FAF. Keefe, Bruyette & Woods raised their target price on First American Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. Finally, Barclays lifted their price objective on First American Financial from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.00.

First American Financial Trading Up 0.8%

Shares of NYSE FAF opened at $63.25 on Friday. First American Financial Corporation has a twelve month low of $52.39 and a twelve month high of $70.92. The stock has a fifty day simple moving average of $59.00 and a 200-day simple moving average of $61.37. The stock has a market capitalization of $6.51 billion, a PE ratio of 41.89 and a beta of 1.24.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. First American Financial had a return on equity of 10.05% and a net margin of 2.52%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.54 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.42%. First American Financial’s dividend payout ratio (DPR) is presently 143.05%.

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.