Fmr LLC Acquires 1,042,145 Shares of First American Financial Co. (NYSE:FAF)

FMR LLC grew its position in First American Financial Co. (NYSE:FAF - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,046,743 shares of the insurance provider's stock after acquiring an additional 1,042,145 shares during the quarter. FMR LLC owned about 5.87% of First American Financial worth $377,559,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of First American Financial during the 4th quarter worth $75,780,000. Corient Private Wealth LLC raised its holdings in shares of First American Financial by 13,222.0% in 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 in the last quarter. Prudential Financial Inc. boosted its position in shares of 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 acquiring an additional 695,060 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of First American Financial by 19.8% during the 4th quarter. Wellington Management Group LLP now owns 1,735,557 shares of the insurance provider's stock worth $108,368,000 after buying an additional 286,711 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of First American Financial in the 4th quarter valued at about $8,460,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of First American Financial from a "market perform" rating to an "outperform" rating and set a $75.00 price target for the company in a report on Tuesday, April 8th. Stephens lifted their target price on shares of First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th.

First American Financial Stock Down 0.7 %

Shares of NYSE:FAF traded down $0.40 during trading on Wednesday, hitting $60.36. 69,318 shares of the company traded hands, compared to its average volume of 678,850. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 48.20 and a beta of 1.23. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The business's fifty day moving average is $63.54 and its 200-day moving average is $64.02.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 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%. On average, analysts forecast that First American Financial Co. will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, March 10th. First American Financial's dividend payout ratio (DPR) is 172.80%.

Insiders Place Their Bets

In other First American Financial news, CFO Mark Edward Seaton sold 12,679 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $64.28, for a total value of $815,006.12. Following the sale, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dennis J. Gilmore sold 111,971 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were 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 trade represents a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,707 shares of company stock valued at $8,136,565 in the last three months. Company insiders own 3.70% of the company's stock.

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.