First American Financial Co. (NYSE:FAF) Sees Significant Increase in Short Interest

First American Financial Co. (NYSE:FAF) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,710,000 shares, a growth of 61.3% from the February 28th total of 1,060,000 shares. Based on an average daily volume of 592,700 shares, the short-interest ratio is presently 2.9 days. Approximately 1.7% of the shares of the stock are sold short.

Insider Transactions at First American Financial

In related news, Director Dennis J. Gilmore sold 111,971 shares of the 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 transaction, the director now owns 494,574 shares in the company, valued at approximately $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Edward Seaton sold 12,679 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $64.28, for a total transaction of $815,006.12. Following the completion of the sale, the chief financial officer now owns 195,812 shares of the company’s stock, valued at $12,586,795.36. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,707 shares of company stock valued at $8,136,565 in the last quarter. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On First American Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of First American Financial by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,145 shares of the insurance provider’s stock valued at $73,809,000 after acquiring an additional 8,315 shares during the period. Cerity Partners LLC increased its position in shares of First American Financial by 74.2% during the 3rd quarter. Cerity Partners LLC now owns 36,609 shares of the insurance provider’s stock worth $2,417,000 after purchasing an additional 15,589 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in First American Financial during the 3rd quarter valued at about $368,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First American Financial by 9.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,743 shares of the insurance provider’s stock valued at $1,237,000 after buying an additional 1,635 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in First American Financial during the third quarter worth about $345,000. Institutional investors own 89.05% of the company’s stock.

First American Financial Trading Down 1.2 %

FAF stock traded down $0.80 during midday trading on Friday, hitting $65.68. The stock had a trading volume of 513,600 shares, compared to its average volume of 632,929. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 52.54 and a beta of 1.34. The stock has a 50-day simple moving average of $63.88 and a 200 day simple moving average of $64.40. First American Financial has a 52 week low of $51.60 and a 52 week high of $70.92.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. On average, equities analysts forecast that First American Financial will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.54 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.29%. First American Financial’s payout ratio is presently 172.80%.

Analysts Set New Price Targets

Several research analysts have commented on FAF shares. Stephens lifted their price target on First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods increased 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, February 18th.

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.