Vaughan Nelson Investment Management L.P. Sells 323,900 Shares of First American Financial Corporation $FAF

Vaughan Nelson Investment Management L.P. lowered its position in First American Financial Corporation (NYSE:FAF) by 98.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,440 shares of the insurance provider’s stock after selling 323,900 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in First American Financial were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FAF. SJS Investment Consulting Inc. raised its position in shares of First American Financial by 2,887.5% during the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 462 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in First American Financial during the 2nd quarter valued at $35,000. First Horizon Corp bought a new stake in First American Financial during the 3rd quarter valued at $37,000. Tripletail Wealth Management LLC acquired a new position in First American Financial during the third quarter worth $41,000. Finally, Danske Bank A S bought a new position in shares of First American Financial in the third quarter valued at $45,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FAF. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Truist Financial lifted their price target on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Keefe, Bruyette & Woods increased their price objective on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Stephens upgraded First American Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $81.00 in a report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.50.

First American Financial Stock Performance

First American Financial stock opened at $60.21 on Wednesday. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $71.47. The firm’s 50-day simple moving average is $64.80 and its 200 day simple moving average is $63.53. The stock has a market cap of $6.16 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $1.35 EPS. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. As a group, analysts predict that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $2.20 annualized dividend and a yield of 3.7%. First American Financial’s payout ratio is currently 36.61%.

Insider Transactions at First American Financial

In other First American Financial news, Director Parker S. Kennedy bought 44,841 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the transaction, the director directly owned 251,552 shares in the company, valued at $17,067,803.20. This trade represents a 21.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by company insiders.

First American Financial Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.