Meeder Asset Management Inc. Has $825,000 Stock Holdings in First American Financial Co. (NYSE:FAF)

Meeder Asset Management Inc. lowered its stake in shares of First American Financial Co. (NYSE:FAF - Free Report) by 86.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,217 shares of the insurance provider's stock after selling 80,981 shares during the quarter. Meeder Asset Management Inc.'s holdings in First American Financial were worth $825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in First American Financial in the third quarter valued at about $95,638,000. Norges Bank bought a new position in shares of First American Financial in the 4th quarter valued at about $75,780,000. Corient Private Wealth LLC grew its position in shares of 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 worth $53,029,000 after buying an additional 842,904 shares during the period. Prudential Financial Inc. lifted its holdings in First American Financial by 6,233.2% in the fourth quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock valued at $44,096,000 after buying an additional 695,060 shares during the period. Finally, ArrowMark Colorado Holdings LLC bought a new position in First American Financial in the third quarter valued at approximately $43,431,000. Institutional investors and hedge funds own 89.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stephens lifted their price objective on First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted 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, February 18th.

Remove Ads

First American Financial Stock Down 4.8 %

Shares of FAF traded down $3.14 during trading hours on Friday, reaching $61.62. The stock had a trading volume of 1,326,896 shares, compared to its average volume of 637,078. The firm has a 50-day moving average of $64.20 and a 200 day moving average of $64.37. The company has a market cap of $6.35 billion, a P/E ratio of 49.30 and a beta of 1.23. First American Financial Co. has a 52 week low of $51.60 and a 52 week 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 (EPS) 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%. As a group, equities analysts expect that First American Financial Co. will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Monday, March 10th. First American Financial's payout ratio is presently 172.80%.

Insiders Place Their Bets

In other news, CFO Mark Edward Seaton sold 12,679 shares of the business's 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 owns 195,812 shares of the company's stock, valued at $12,586,795.36. The trade was a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value 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. The trade was a 11.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,707 shares of company stock worth $8,136,565. Corporate insiders own 3.70% of the company's stock.

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.