First American Financial Co. (NYSE:FAF) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. trimmed its holdings in shares of First American Financial Co. (NYSE:FAFGet Rating) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,037 shares of the insurance provider’s stock after selling 1,770 shares during the period. Shell Asset Management Co.’s holdings in First American Financial were worth $780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Versor Investments LP lifted its stake in First American Financial by 9.2% during the 1st quarter. Versor Investments LP now owns 8,732 shares of the insurance provider’s stock valued at $566,000 after acquiring an additional 732 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of First American Financial in the 1st quarter valued at $258,000. FDx Advisors Inc. lifted its stake in shares of First American Financial by 10.1% in the 1st quarter. FDx Advisors Inc. now owns 6,731 shares of the insurance provider’s stock valued at $436,000 after purchasing an additional 617 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of First American Financial by 2.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 100,090 shares of the insurance provider’s stock valued at $6,488,000 after purchasing an additional 1,920 shares during the period. Finally, Blossom Wealth Management lifted its stake in shares of First American Financial by 44.3% in the 1st quarter. Blossom Wealth Management now owns 3,940 shares of the insurance provider’s stock valued at $255,000 after purchasing an additional 1,210 shares during the period. 84.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First American Financial

In other news, COO Christopher Michael Leavell sold 39,206 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $59.61, for a total transaction of $2,337,069.66. Following the completion of the sale, the chief operating officer now owns 166,465 shares of the company’s stock, valued at $9,922,978.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FAF. Truist Financial decreased their target price on shares of First American Financial from $86.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Barclays decreased their target price on shares of First American Financial from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. Finally, BTIG Research decreased their target price on shares of First American Financial from $81.00 to $79.00 and set a “buy” rating for the company in a research note on Friday, July 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and an average price target of $64.68.

First American Financial Stock Performance

NYSE:FAF opened at $58.00 on Monday. The company has a fifty day moving average of $55.48 and a two-hundred day moving average of $62.35. The stock has a market capitalization of $6.23 billion, a PE ratio of 5.84 and a beta of 1.22. First American Financial Co. has a fifty-two week low of $48.81 and a fifty-two week high of $81.54.

First American Financial (NYSE:FAFGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The insurance provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.61. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.12 billion. First American Financial had a net margin of 11.98% and a return on equity of 15.61%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 earnings per share. Research analysts forecast that First American Financial Co. will post 6.21 earnings per share for the current year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 8th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Tuesday, June 7th. First American Financial’s payout ratio is 20.54%.

About First American Financial

(Get Rating)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

See Also

Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Financial Co. (NYSE:FAFGet Rating).

Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

Want More Great Investing Ideas?

Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.