LPL Financial LLC Sells 24,965 Shares of First American Financial Co. (NYSE:FAF)

LPL Financial LLC reduced its stake in shares of First American Financial Co. (NYSE:FAF – Get Rating) by 34.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,164 shares of the insurance provider’s stock after selling 24,965 shares during the quarter. LPL Financial LLC’s holdings in First American Financial were worth $2,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FAF. Lazard Asset Management LLC lifted its holdings in First American Financial by 7,633.9% during the 3rd quarter. Lazard Asset Management LLC now owns 30,781 shares of the insurance provider’s stock valued at $1,419,000 after purchasing an additional 30,383 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of First American Financial by 39.1% during the third quarter. Renaissance Technologies LLC now owns 211,625 shares of the insurance provider’s stock worth $9,756,000 after purchasing an additional 59,525 shares during the last quarter. Brave Warrior Advisors LLC lifted its stake in shares of First American Financial by 37.5% in the third quarter. Brave Warrior Advisors LLC now owns 5,500 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 1,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of First American Financial by 5.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,503 shares of the insurance provider’s stock worth $455,000 after acquiring an additional 443 shares during the period. Finally, Brandywine Global Investment Management LLC lifted its stake in First American Financial by 37.3% in the third quarter. Brandywine Global Investment Management LLC now owns 106,677 shares of the insurance provider’s stock valued at $4,918,000 after buying an additional 28,983 shares during the period. 84.45% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Price Performance

Shares of First American Financial stock opened at $55.75 on Monday. The business’s 50 day simple moving average is $55.89 and its two-hundred day simple moving average is $55.80. The stock has a market capitalization of $5.75 billion, a P/E ratio of 28.02 and a beta of 1.26. First American Financial Co. has a one year low of $43.54 and a one year high of $64.66.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.08 annualized dividend and a dividend yield of 3.73%. First American Financial’s dividend payout ratio (DPR) is presently 104.52%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FAF shares. StockNews.com assumed coverage on First American Financial in a research report on Thursday. They set a “hold” rating on the stock. TheStreet downgraded First American Financial from a “b-” rating to a “c+” rating in a research note on Friday, March 17th. Barclays cut their target price on First American Financial from $65.00 to $63.00 in a research note on Friday, April 28th. Finally, Stephens upgraded First American Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $65.00 to $72.00 in a research note on Friday, February 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, First American Financial has a consensus rating of “Moderate Buy” and an average target price of $68.40.

About First American Financial

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First American Financial Corp. engages in the provision of title insurance and settlement services to the real estate and mortgage industries. It also provides other financial services and risk solutions. It operates through the following segments: Title Insurance and Services, Specialty Insurance, and Corporate.