Allspring Global Investments Holdings LLC Sells 14,267 Shares of First American Financial Co. (NYSE:FAF)

Allspring Global Investments Holdings LLC cut its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 243,636 shares of the insurance provider's stock after selling 14,267 shares during the period. Allspring Global Investments Holdings LLC owned 0.24% of First American Financial worth $15,079,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FAF. UMB Bank n.a. increased its stake in shares of First American Financial by 66.9% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider's stock worth $33,000 after purchasing an additional 210 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of First American Financial by 132.3% in the third quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider's stock worth $41,000 after purchasing an additional 356 shares in the last quarter. Blue Trust Inc. increased its stake in shares of First American Financial by 214.2% in the third quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider's stock worth $67,000 after purchasing an additional 696 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of First American Financial by 34.9% in the fourth quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider's stock worth $67,000 after purchasing an additional 277 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of First American Financial in the third quarter worth $75,000. 89.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of First American Financial from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Truist Financial raised their target price 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 raised their target price on shares of First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $74.00 to $75.00 and gave the company a "market perform" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.50.

First American Financial Stock Performance

Shares of NYSE:FAF traded down $1.51 on Thursday, reaching $63.22. The company's stock had a trading volume of 347,987 shares, compared to its average volume of 453,581. First American Financial Co. has a 52-week low of $51.60 and a 52-week high of $70.92. The company has a market cap of $6.51 billion, a P/E ratio of 50.58 and a beta of 1.33. The company has a 50-day simple moving average of $62.61 and a 200 day simple moving average of $64.02.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, topping analysts' consensus estimates 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, equities research analysts forecast that First American Financial Co. will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.42%. First American Financial's payout ratio is currently 172.80%.

Insider Transactions at First American Financial

In other news, Director Dennis J. Gilmore sold 111,971 shares of the firm's 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 approximately $31,454,906.40. This trade represents a 18.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.70% of the company's stock.

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.