American International Group Inc. Reduces Stock Position in First American Financial Co. (NYSE:FAF)

American International Group Inc. lowered its holdings in shares of First American Financial Co. (NYSE:FAF) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,557 shares of the insurance provider’s stock after selling 2,792 shares during the quarter. American International Group Inc. owned approximately 0.13% of First American Financial worth $8,337,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FAF. SG Americas Securities LLC increased its holdings in shares of First American Financial by 52.0% in the fourth quarter. SG Americas Securities LLC now owns 3,653 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 1,250 shares during the last quarter. Pacer Advisors Inc. increased its stake in First American Financial by 78.8% during the fourth quarter. Pacer Advisors Inc. now owns 15,507 shares of the insurance provider’s stock worth $999,000 after acquiring an additional 6,832 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of First American Financial by 37.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 16,206 shares of the insurance provider’s stock worth $1,044,000 after buying an additional 4,427 shares during the period. Chilton Capital Management LLC purchased a new position in shares of First American Financial during the fourth quarter worth $64,000. Finally, Mayflower Financial Advisors LLC boosted its position in shares of First American Financial by 5.9% during the fourth quarter. Mayflower Financial Advisors LLC now owns 9,459 shares of the insurance provider’s stock worth $610,000 after buying an additional 527 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their price target on First American Financial from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Barclays decreased their target price on First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Finally, Stephens restated an “overweight” rating and issued a $72.00 price target on shares of First American Financial in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

First American Financial Stock Performance

FAF traded up $0.80 during trading on Thursday, reaching $58.01. The company’s stock had a trading volume of 533,871 shares, compared to its average volume of 636,716. First American Financial Co. has a 52-week low of $49.55 and a 52-week high of $65.54. The company’s fifty day moving average price is $54.86 and its 200-day moving average price is $56.95. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 27.37 and a beta of 1.28.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company earned $1.35 EPS. First American Financial’s revenue was down 2.1% on a year-over-year basis. Equities analysts predict that First American Financial Co. will post 3.83 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s payout ratio is currently 101.44%.

About First American Financial

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.