First American Financial Co. (NYSE:FAF) Sees Significant Decrease in Short Interest

First American Financial Co. (NYSE:FAF - Get Free Report) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,090,000 shares, a decrease of 14.2% from the January 15th total of 1,270,000 shares. Based on an average daily volume of 521,400 shares, the short-interest ratio is presently 2.1 days. Approximately 1.1% of the company's shares are short sold.

First American Financial Stock Down 2.3 %

Shares of NYSE:FAF traded down $1.51 during trading on Thursday, hitting $63.22. The stock had a trading volume of 347,987 shares, compared to its average volume of 453,581. First American Financial has a 12 month low of $51.60 and a 12 month high of $70.92. The company has a market capitalization of $6.51 billion, a PE ratio of 50.58 and a beta of 1.33. The firm's fifty day moving average is $62.56 and its 200 day moving average is $64.02.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share 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%. Equities research analysts expect that First American Financial will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Monday, March 10th. First American Financial's dividend payout ratio (DPR) is presently 172.80%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FAF. Barclays upped their price target on First American Financial from $70.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their target price on First American Financial from $74.00 to $75.00 and gave the stock a "market perform" rating in a research report on Tuesday. Truist Financial increased their target price on First American Financial from $68.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Stephens increased their target price on First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.50.

Insider Buying and Selling at First American Financial

In other First American Financial news, Director Dennis J. Gilmore sold 111,971 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the completion of the transaction, the director now owns 494,574 shares of the company's stock, valued at $31,454,906.40. This represents a 18.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FAF. Wellington Management Group LLP bought a new position in First American Financial during the 3rd quarter valued at approximately $95,638,000. Norges Bank bought a new position in First American Financial during the 4th quarter valued at approximately $75,780,000. FMR LLC boosted its stake in First American Financial by 20.8% during the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock valued at $377,559,000 after purchasing an additional 1,042,145 shares during the last quarter. Corient Private Wealth LLC boosted its stake 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 valued at $53,029,000 after purchasing an additional 842,904 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in First American Financial by 500.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider's stock valued at $62,646,000 after purchasing an additional 836,314 shares during the last quarter. Institutional investors own 89.05% of the company's stock.

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.