Teacher Retirement System of Texas Purchases 4,147 Shares of First American Financial Co. (NYSE:FAF)

Teacher Retirement System of Texas grew its position in shares of First American Financial Co. (NYSE:FAF - Free Report) by 21.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,301 shares of the insurance provider's stock after acquiring an additional 4,147 shares during the quarter. Teacher Retirement System of Texas' holdings in First American Financial were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in First American Financial by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,145 shares of the insurance provider's stock worth $73,809,000 after purchasing an additional 8,315 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of First American Financial by 74.2% in the 3rd quarter. Cerity Partners LLC now owns 36,609 shares of the insurance provider's stock worth $2,417,000 after buying an additional 15,589 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of First American Financial in the third quarter valued at approximately $368,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of First American Financial by 9.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,743 shares of the insurance provider's stock valued at $1,237,000 after acquiring an additional 1,635 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in First American Financial during the third quarter worth $345,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FAF. Keefe, Bruyette & Woods raised their target price on 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. Stephens raised their price objective 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.

Insider Buying and Selling at First American Financial

In other First American Financial news, SVP Lisa W. Cornehl sold 3,057 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total value of $200,202.93. Following the completion of the transaction, the senior vice president now owns 23,825 shares in the company, valued at $1,560,299.25. This trade represents a 11.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis J. Gilmore sold 111,971 shares of the company'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 sale, the director now owns 494,574 shares in the company, valued at approximately $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,707 shares of company stock valued at $8,136,565 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

First American Financial Price Performance

Shares of FAF traded up $0.54 during mid-day trading on Wednesday, hitting $67.00. The stock had a trading volume of 557,546 shares, compared to its average volume of 632,030. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The business has a fifty day moving average price of $64.14 and a 200-day moving average price of $64.42. The firm has a market cap of $6.91 billion, a P/E ratio of 53.60 and a beta of 1.34.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that First American Financial Co. will post 5.35 earnings per share 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.22%. First American Financial's dividend payout ratio is 172.80%.

About First American Financial

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.