California Public Employees Retirement System Has $11.95 Million Stock Holdings in First American Financial Co. (NYSE:FAF)

California Public Employees Retirement System lessened its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,398 shares of the insurance provider's stock after selling 4,520 shares during the quarter. California Public Employees Retirement System owned 0.19% of First American Financial worth $11,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FAF. Wellington Management Group LLP acquired a new stake in shares of First American Financial in the 3rd quarter valued at $95,638,000. Norges Bank acquired a new position in First American Financial during the 4th quarter worth about $75,780,000. Corient Private Wealth LLC lifted its position in First American Financial by 13,222.0% during the 4th quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock worth $53,029,000 after buying an additional 842,904 shares in the last quarter. Prudential Financial Inc. raised its holdings in First American Financial by 6,233.2% during the 4th quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock worth $44,096,000 after purchasing an additional 695,060 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in First American Financial during the 4th quarter worth about $8,460,000. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Stock Performance

NYSE FAF traded down $1.15 during trading hours on Thursday, reaching $60.13. 195,389 shares of the company's stock were exchanged, compared to its average volume of 647,195. The company's 50-day moving average is $63.79 and its two-hundred day moving average is $64.15. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 48.14 and a beta of 1.23.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, topping 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%. Research analysts predict that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, March 10th. First American Financial's payout ratio is presently 172.80%.

Insider Activity

In related news, 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis J. Gilmore sold 111,971 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $63.60, for a total value of $7,121,355.60. Following the completion of the transaction, the director now owns 494,574 shares in the company, valued at $31,454,906.40. The trade was a 18.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,707 shares of company stock valued at $8,136,565. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stephens upped their price target on First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research note 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 target for the company in a research note on Tuesday.

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.