KLP Kapitalforvaltning AS Acquires New Position in First American Financial Co. (NYSE:FAF)

KLP Kapitalforvaltning AS purchased a new stake in shares of First American Financial Co. (NYSE:FAF - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,200 shares of the insurance provider's stock, valued at approximately $1,324,000.

A number of other hedge funds have also modified their holdings of the company. UMB Bank n.a. boosted its position in First American Financial by 66.9% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider's stock valued at $33,000 after buying an additional 210 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in First American Financial by 57.6% during the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 245 shares during the period. GAMMA Investing LLC boosted its holdings in shares of First American Financial by 34.9% in the 4th quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider's stock valued at $67,000 after acquiring an additional 277 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of First American Financial in the third quarter worth $75,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of First American Financial by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider's stock worth $84,000 after purchasing an additional 173 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First American Financial

In other First American Financial news, SVP Lisa W. Cornehl sold 3,057 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total transaction of $200,202.93. Following the completion of the transaction, the senior vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Edward Seaton sold 12,679 shares of First American Financial stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 195,812 shares in the company, valued at $12,586,795.36. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,707 shares of company stock valued at $8,136,565. 3.70% of the stock is owned by company insiders.

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First American Financial Price Performance

FAF stock traded down $2.29 during midday trading on Thursday, hitting $64.71. 1,847,756 shares of the stock traded hands, compared to its average volume of 636,440. The stock's fifty day simple moving average is $64.21 and its 200-day simple moving average is $64.42. The firm has a market cap of $6.67 billion, a P/E ratio of 51.77 and a beta of 1.34. 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 announced its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, beating the consensus estimate 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, research analysts predict that First American Financial Co. will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.34%. First American Financial's dividend payout ratio (DPR) is 172.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FAF shares. Stephens increased their price target 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. Keefe, Bruyette & Woods upped their target price on First American Financial from $74.00 to $75.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th.

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.