Prudential Financial Inc. Increases Stock Position in First American Financial Co. (NYSE:FAF)

Prudential Financial Inc. lifted its stake in shares of First American Financial Co. (NYSE:FAF - Free Report) by 6,233.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 706,211 shares of the insurance provider's stock after acquiring an additional 695,060 shares during the period. Prudential Financial Inc. owned approximately 0.69% of First American Financial worth $44,096,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FAF. Bar Harbor Wealth Management grew its position in First American Financial by 43.6% during the fourth quarter. Bar Harbor Wealth Management now owns 96,627 shares of the insurance provider's stock valued at $6,033,000 after acquiring an additional 29,324 shares during the last quarter. Barclays PLC boosted its stake in shares of First American Financial by 15.2% in the 3rd quarter. Barclays PLC now owns 60,821 shares of the insurance provider's stock valued at $4,016,000 after purchasing an additional 8,047 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of First American Financial by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,820 shares of the insurance provider's stock valued at $14,180,000 after purchasing an additional 10,489 shares during the last quarter. Oak Thistle LLC purchased a new position in First American Financial in the 4th quarter worth $1,476,000. Finally, Geode Capital Management LLC lifted its stake in First American Financial by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider's stock worth $112,306,000 after purchasing an additional 12,668 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

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Insider Buying and Selling at First American Financial

In related news, Director Dennis J. Gilmore sold 111,971 shares of the firm's stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Edward Seaton sold 12,679 shares of First American Financial 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,707 shares of company stock valued at $8,136,565. 3.70% of the stock is currently owned by company insiders.

First American Financial Price Performance

NYSE:FAF traded down $0.80 during trading hours on Friday, hitting $65.68. The company had a trading volume of 513,600 shares, compared to its average volume of 632,929. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The company has a market capitalization of $6.77 billion, a PE ratio of 52.54 and a beta of 1.34. The stock has a 50-day moving average price of $63.88 and a 200 day moving average price of $64.40.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data 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%. Analysts anticipate that First American Financial Co. will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.54 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.16 annualized dividend and a yield of 3.29%. First American Financial's payout ratio is 172.80%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Stephens raised their price objective 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. Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $74.00 to $75.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th.

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.