Fisher Asset Management LLC Reduces Stock Holdings in First American Financial Co. (NYSE:FAF)

Fisher Asset Management LLC reduced its position in shares of First American Financial Co. (NYSE:FAF - Free Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,483 shares of the insurance provider's stock after selling 37,006 shares during the period. Fisher Asset Management LLC owned approximately 0.50% of First American Financial worth $32,124,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FAF. Wealth Enhancement Advisory Services LLC increased its stake in First American Financial by 32.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,436 shares of the insurance provider's stock worth $1,019,000 after acquiring an additional 3,773 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of First American Financial by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,953 shares of the insurance provider's stock worth $789,000 after purchasing an additional 810 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in First American Financial by 94.5% in the third quarter. Harbor Capital Advisors Inc. now owns 82,156 shares of the insurance provider's stock valued at $5,423,000 after purchasing an additional 39,924 shares in the last quarter. QRG Capital Management Inc. lifted its position in First American Financial by 7.0% during the third quarter. QRG Capital Management Inc. now owns 33,864 shares of the insurance provider's stock valued at $2,235,000 after purchasing an additional 2,226 shares during the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in First American Financial by 1.5% in the 3rd quarter. 1834 Investment Advisors Co. now owns 29,604 shares of the insurance provider's stock worth $1,954,000 after buying an additional 425 shares in the last quarter. Institutional investors own 89.05% of the company's stock.

First American Financial Stock Performance

FAF stock traded down $0.69 during trading on Monday, hitting $65.00. 911,869 shares of the company traded hands, compared to its average volume of 496,519. The company has a 50-day moving average of $62.64 and a 200-day moving average of $64.26. The firm has a market capitalization of $6.68 billion, a PE ratio of 52.00 and a beta of 1.33. First American Financial Co. has a 1 year low of $51.60 and a 1 year high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last posted its 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 net margin of 2.14% and a return on equity of 9.35%. Sell-side analysts expect that First American Financial Co. will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.54 per share. The ex-dividend date is Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.32%. First American Financial's dividend payout ratio is presently 172.80%.

Insider Buying and Selling

In related news, SVP Lisa W. Cornehl sold 3,057 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 23,825 shares of the company's stock, valued at $1,560,299.25. This represents a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis J. Gilmore sold 111,971 shares of First American Financial stock in a transaction that occurred on 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 directly owns 494,574 shares in the company, valued at approximately $31,454,906.40. The trade was a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,707 shares of company stock valued at $8,136,565 over the last quarter. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on FAF. Stephens lifted 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. Keefe, Bruyette & Woods upped their price objective on First American Financial from $74.00 to $75.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.50.

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.