Corebridge Financial Inc. Sells 5,117 Shares of First American Financial Co. (NYSE:FAF)

Corebridge Financial Inc. trimmed its stake in First American Financial Co. (NYSE:FAF - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,530 shares of the insurance provider's stock after selling 5,117 shares during the period. Corebridge Financial Inc. owned 0.11% of First American Financial worth $7,276,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FAF. Bar Harbor Wealth Management lifted its holdings in First American Financial by 43.6% in the fourth quarter. Bar Harbor Wealth Management now owns 96,627 shares of the insurance provider's stock worth $6,033,000 after buying an additional 29,324 shares during the period. Barclays PLC lifted its stake in shares of First American Financial by 15.2% in the 3rd quarter. Barclays PLC now owns 60,821 shares of the insurance provider's stock valued at $4,016,000 after purchasing an additional 8,047 shares during the period. JPMorgan Chase & Co. boosted its position in shares of First American Financial by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 214,820 shares of the insurance provider's stock valued at $14,180,000 after purchasing an additional 10,489 shares in the last quarter. Oak Thistle LLC purchased a new stake in First American Financial in the fourth quarter worth $1,476,000. Finally, Geode Capital Management LLC raised its holdings in First American Financial by 0.8% in the third 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 in the last quarter. Institutional investors own 89.05% of the company's stock.

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First American Financial Stock Up 0.1 %

Shares of NYSE:FAF traded up $0.04 on Wednesday, hitting $66.50. 95,386 shares of the company traded hands, compared to its average volume of 592,891. The company has a market cap of $6.86 billion, a PE ratio of 53.20 and a beta of 1.34. The stock has a 50 day simple moving average of $64.03 and a 200-day simple moving average of $64.40. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last issued its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that First American Financial Co. will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, March 10th. First American Financial's payout ratio is 172.80%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FAF shares. Stephens boosted their target price on shares of First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods upped their price objective on shares of First American Financial from $74.00 to $75.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th.

Insider Transactions at First American Financial

In other First American Financial news, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 23,825 shares of the company's stock, valued at approximately $1,560,299.25. The trade was a 11.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Edward Seaton sold 12,679 shares of the firm'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 owns 195,812 shares in the company, valued at approximately $12,586,795.36. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,707 shares of company stock worth $8,136,565 over the last quarter. 3.70% of the stock is currently owned by insiders.

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.