First American Financial Co. (NYSE:FAF) Director Sells $7,121,355.60 in Stock

First American Financial Co. (NYSE:FAF) Director Dennis J. Gilmore sold 111,971 shares of First American Financial stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $63.60, for a total value of $7,121,355.60. Following the completion of the transaction, the director now directly owns 494,574 shares in the company, valued at $31,454,906.40. This trade represents a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

First American Financial Trading Up 1.0 %

FAF stock traded up $0.61 on Wednesday, hitting $64.76. The company had a trading volume of 515,156 shares, compared to its average volume of 456,883. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 51.81 and a beta of 1.33. First American Financial Co. has a 12-month low of $51.60 and a 12-month high of $70.92. The stock’s 50-day simple moving average is $62.61 and its 200 day simple moving average is $64.02.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. Research analysts forecast that First American Financial Co. will post 5.45 earnings per share for the current year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.34%. First American Financial’s payout ratio is presently 172.80%.

Hedge Funds Weigh In On First American Financial

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in First American Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,625,017 shares of the insurance provider’s stock valued at $663,426,000 after acquiring an additional 107,925 shares during the last quarter. FMR LLC boosted its holdings in shares of First American Financial by 20.8% in the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider’s stock worth $377,559,000 after purchasing an additional 1,042,145 shares during the period. Ariel Investments LLC increased its position in shares of First American Financial by 9.9% during the 4th quarter. Ariel Investments LLC now owns 3,993,155 shares of the insurance provider’s stock valued at $249,333,000 after purchasing an additional 359,777 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in First American Financial by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,963,516 shares of the insurance provider’s stock worth $247,481,000 after buying an additional 129,863 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of First American Financial by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,573,788 shares of the insurance provider’s stock worth $160,707,000 after purchasing an additional 78,022 shares during the period. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FAF shares. Truist Financial boosted their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Stephens raised their price objective on shares of First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Barclays increased their target price on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $74.00 to $75.00 and gave the company a “market perform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

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.