18,742 First American Financial Corporation $FAF Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. reduced its stake in shares of First American Financial Corporation (NYSE:FAF) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,534,492 shares of the insurance provider’s stock after selling 18,742 shares during the quarter. First American Financial comprises 2.3% of Reinhart Partners LLC.’s portfolio, making the stock its 17th biggest holding. Reinhart Partners LLC.’s holdings in First American Financial were worth $93,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. grew its position in First American Financial by 616.4% during the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 376 shares during the last quarter. Elevation Wealth Partners LLC raised its position in First American Financial by 70.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 437 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Wealth Enhancement Trust Services Inc. lifted its holdings in First American Financial by 140.0% in the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 600 shares of the insurance provider’s stock worth $36,000 after buying an additional 350 shares during the period. Global Retirement Partners LLC purchased a new stake in First American Financial in the second quarter worth $55,000. Finally, SHP Wealth Management purchased a new stake in First American Financial in the fourth quarter worth about $51,000. Institutional investors own 89.05% of the company’s stock.

Insider Activity at First American Financial

In other news, CAO Steven Adams sold 3,253 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares in the company, valued at $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by insiders.

First American Financial Stock Down 2.7%

FAF stock opened at $61.10 on Friday. The business’s 50-day moving average price is $70.41 and its 200-day moving average price is $68.39. The stock has a market cap of $6.24 billion, a P/E ratio of 8.46, a PEG ratio of 0.58 and a beta of 1.24. First American Financial Corporation has a twelve month low of $56.20 and a twelve month high of $79.87.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, beating the consensus estimate of $1.80 by $0.28. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $1.53 EPS. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities research analysts expect that First American Financial Corporation will post 7.12 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $2.20 dividend on an annualized basis and a yield of 3.6%. First American Financial’s dividend payout ratio (DPR) is currently 33.80%.

Analyst Ratings Changes

A number of brokerages have recently commented on FAF. Barclays dropped their price target on First American Financial from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Stephens reiterated an “overweight” rating and set a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Keefe, Bruyette & Woods boosted their price target on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Benchmark assumed coverage on First American Financial in a report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.80.

About First American Financial

First American Financial Corporation (NYSE: FAF) provides title insurance, settlement services and related real estate transaction solutions. Through its title insurance operations, the company protects property buyers, lenders and other parties against certain losses arising from defects in title, liens and other issues affecting ownership or mortgage interests.

The company also offers escrow and closing services, title search and examination, property information, valuation, mortgage subservicing and other technology-enabled solutions for the real estate and mortgage industries.