Wells Fargo & Company MN Decreases Stake in First American Financial Co. (NYSE:FAF)

Wells Fargo & Company MN cut its position in First American Financial Co. (NYSE:FAF - Free Report) by 49.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,071 shares of the insurance provider's stock after selling 88,347 shares during the quarter. Wells Fargo & Company MN owned approximately 0.09% of First American Financial worth $5,562,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FAF. UMB Bank n.a. lifted its stake in shares of 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 period. Jones Financial Companies Lllp raised its stake in shares of First American Financial by 57.6% in the fourth quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 245 shares in the last quarter. GAMMA Investing LLC lifted its position in First American Financial by 34.9% in the fourth quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider's stock worth $67,000 after purchasing an additional 277 shares during the period. Parkside Financial Bank & Trust boosted its stake in 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 buying an additional 173 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in First American Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider's stock valued at $94,000 after buying an additional 230 shares during the period. Institutional investors own 89.05% of the company's stock.

Insider Activity

In other First American Financial news, CFO Mark Edward Seaton sold 12,679 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $64.28, for a total transaction of $815,006.12. Following the completion of the sale, the chief financial officer now directly owns 195,812 shares of the company's stock, valued at approximately $12,586,795.36. The trade was a 6.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dennis J. Gilmore sold 111,971 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $63.60, for a total value of $7,121,355.60. Following the completion of the sale, the director now owns 494,574 shares in the company, valued at $31,454,906.40. The trade was a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,707 shares of company stock valued at $8,136,565 over the last three months. 3.70% of the stock is owned by insiders.

First American Financial Price Performance

Shares of NYSE:FAF traded up $2.62 during trading on Thursday, reaching $62.32. The stock had a trading volume of 291,552 shares, compared to its average volume of 658,623. The stock has a market capitalization of $6.42 billion, a PE ratio of 49.98 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. The business's 50-day moving average price is $62.98 and its 200 day moving average price is $63.75.

First American Financial (NYSE:FAF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.19. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. Analysts forecast that First American Financial Co. will post 5.35 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on FAF. Stephens upped their target price on shares of 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 raised First American Financial from a "market perform" rating to an "outperform" rating and set a $75.00 target price for the company in a report on Tuesday, April 8th.

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.