First American Financial Co. (NYSE:FAF) Stake Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in First American Financial Co. (NYSE:FAF - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 505,481 shares of the insurance provider's stock after selling 17,191 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.49% of First American Financial worth $31,562,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC lifted its holdings in First American Financial by 74.2% in the third quarter. Cerity Partners LLC now owns 36,609 shares of the insurance provider's stock worth $2,417,000 after acquiring an additional 15,589 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of First American Financial in the 3rd quarter worth approximately $368,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First American Financial by 9.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,743 shares of the insurance provider's stock valued at $1,237,000 after purchasing an additional 1,635 shares during the period. Walleye Capital LLC bought a new position in First American Financial during the 3rd quarter worth $345,000. Finally, Captrust Financial Advisors increased its position in First American Financial by 11.8% in the third quarter. Captrust Financial Advisors now owns 6,930 shares of the insurance provider's stock worth $457,000 after buying an additional 732 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling

In related news, Director Dennis J. Gilmore sold 111,971 shares of First American Financial stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the transaction, the director now directly owns 494,574 shares of the company's stock, valued at $31,454,906.40. The trade was a 18.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Edward Seaton sold 12,679 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $64.28, for a total transaction of $815,006.12. Following the transaction, the chief financial officer now owns 195,812 shares of the company's stock, valued at approximately $12,586,795.36. This trade represents a 6.08 % 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 over the last quarter. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FAF. Stephens boosted their price target on shares of First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $74.00 to $75.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th.

First American Financial Stock Down 4.8 %

FAF stock traded down $3.14 during trading on Friday, reaching $61.62. 1,326,896 shares of the company's stock were exchanged, compared to its average volume of 637,968. First American Financial Co. has a 1-year low of $51.60 and a 1-year high of $70.92. The firm has a market cap of $6.35 billion, a PE ratio of 49.30 and a beta of 1.23. The company's fifty day moving average price is $64.20 and its 200-day moving average price is $64.39.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share 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%. As a group, sell-side analysts expect that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

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

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.