Geode Capital Management LLC Sells 8,372 Shares of First American Financial Co. (NYSE:FAF)

Geode Capital Management LLC lessened its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,692,531 shares of the insurance provider's stock after selling 8,372 shares during the period. Geode Capital Management LLC owned 1.64% of First American Financial worth $105,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FAF. Norges Bank acquired a new stake in shares of First American Financial during the fourth quarter worth $75,780,000. Corient Private Wealth LLC raised its stake in 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 worth $53,029,000 after purchasing an additional 842,904 shares in the last quarter. Prudential Financial Inc. boosted its holdings in First American Financial by 6,233.2% in the 4th quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock valued at $44,096,000 after purchasing an additional 695,060 shares during the period. Wellington Management Group LLP grew 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 purchasing an additional 286,711 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of First American Financial during the fourth quarter worth approximately $8,460,000. Institutional investors own 89.05% of the company's stock.

Insider Buying and Selling

In other news, Director Dennis J. Gilmore sold 111,971 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 494,574 shares in the company, valued at $31,454,906.40. This represents a 18.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Lisa W. Cornehl sold 3,057 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total transaction of $200,202.93. Following the transaction, the senior vice president now directly owns 23,825 shares in the company, valued at $1,560,299.25. The trade was a 11.37 % 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 worth $8,136,565 in the last quarter. Insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods raised First American Financial from a "market perform" rating to an "outperform" rating and set a $75.00 price objective for the company in a report on Tuesday, April 8th. Stephens boosted 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.

First American Financial Trading Up 0.7 %

NYSE FAF traded up $0.43 on Tuesday, hitting $61.40. 144,903 shares of the company were exchanged, compared to its average volume of 646,932. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The company has a market cap of $6.33 billion, a PE ratio of 49.12 and a beta of 1.23. The stock has a fifty day moving average of $63.61 and a 200-day moving average of $64.05.

First American Financial (NYSE:FAF - Get Free Report) last issued 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 return on equity of 9.35% and a net margin of 2.14%. On average, analysts expect that First American Financial Co. will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, March 10th. First American Financial's payout ratio is presently 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.