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

Envestnet Asset Management Inc. lessened its holdings in shares of First American Financial Co. (NYSE:FAFGet Rating) by 8.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,906 shares of the insurance provider’s stock after selling 17,684 shares during the quarter. Envestnet Asset Management Inc.’s holdings in First American Financial were worth $12,375,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Lazard Asset Management LLC lifted its position in shares of First American Financial by 33.2% during the fourth quarter. Lazard Asset Management LLC now owns 530 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 132 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of First American Financial by 1.2% during the fourth quarter. Pacer Advisors Inc. now owns 11,442 shares of the insurance provider’s stock worth $895,000 after purchasing an additional 138 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of First American Financial by 1.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,207 shares of the insurance provider’s stock worth $798,000 after purchasing an additional 143 shares in the last quarter. Eaton Vance Management lifted its position in shares of First American Financial by 3.5% during the fourth quarter. Eaton Vance Management now owns 4,877 shares of the insurance provider’s stock worth $315,000 after purchasing an additional 167 shares in the last quarter. Finally, JJJ Advisors Inc. increased its stake in shares of First American Financial by 100.0% during the fourth quarter. JJJ Advisors Inc. now owns 400 shares of the insurance provider’s stock worth $31,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 84.95% of the company’s stock.

First American Financial Trading Up 0.3 %

FAF stock opened at $55.41 on Friday. The company has a market capitalization of $5.77 billion, a P/E ratio of 6.74 and a beta of 1.21. First American Financial Co. has a twelve month low of $48.81 and a twelve month high of $81.54. The business has a 50 day simple moving average of $55.10 and a 200-day simple moving average of $61.78.

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, beating the consensus estimate of $1.62 by $0.61. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.12 billion. First American Financial had a return on equity of 15.41% and a net margin of 10.11%. The company’s revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.13 earnings per share. Research analysts predict that First American Financial Co. will post 6.41 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 8th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, June 7th. First American Financial’s payout ratio is currently 24.82%.

Insider Activity

In related news, COO Christopher Michael Leavell sold 39,206 shares of the stock in a transaction on Monday, May 23rd. The stock was 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 directly owns 166,465 shares of the company’s stock, valued at $9,922,978.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.

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

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