Raymond James Financial Inc. Purchases New Position in First American Financial Co. (NYSE:FAF)

Raymond James Financial Inc. bought a new position in shares of First American Financial Co. (NYSE:FAF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 127,041 shares of the insurance provider's stock, valued at approximately $7,932,000. Raymond James Financial Inc. owned approximately 0.12% of First American Financial at the end of the most recent reporting period.

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

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Insider Buying and Selling

In other First American Financial news, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,560,299.25. This trade represents a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $7,121,355.60. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold 127,707 shares of company stock worth $8,136,565 in the last quarter. 3.70% of the stock is owned by insiders.

First American Financial Trading Up 0.0 %

Shares of NYSE:FAF traded up $0.01 during trading on Wednesday, reaching $65.71. The company had a trading volume of 458,714 shares, compared to its average volume of 610,995. The company has a fifty day moving average of $63.62 and a two-hundred day moving average of $64.37. The stock has a market capitalization of $6.77 billion, a P/E ratio of 52.57 and a beta of 1.34. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last announced its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (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%. As a group, equities 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued 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 3.29%. First American Financial's dividend payout ratio is 172.80%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FAF shares. Keefe, Bruyette & Woods upped their price target 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. Stephens upped their target price 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.

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.