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 the firm’s 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 $31,454,906.40. This represents a 18.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

First American Financial Price Performance

Shares of NYSE FAF opened at $63.44 on Friday. The company has a market cap of $6.53 billion, a PE ratio of 50.75 and a beta of 1.33. The stock has a fifty day moving average price of $62.52 and a 200 day moving average price of $64.04. First American Financial Co. has a 1-year low of $51.60 and a 1-year 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%. Analysts anticipate that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Monday, March 10th. First American Financial’s payout ratio is 172.80%.

Hedge Funds Weigh In On First American Financial

A number of large investors have recently modified their holdings of FAF. Blossom Wealth Management grew its holdings in First American Financial by 2.4% during the third quarter. Blossom Wealth Management now owns 7,105 shares of the insurance provider’s stock worth $469,000 after acquiring an additional 165 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of First American Financial by 14.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock worth $84,000 after purchasing an additional 173 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of First American Financial by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 3,247 shares of the insurance provider’s stock worth $203,000 after purchasing an additional 179 shares during the period. UMB Bank n.a. increased its holdings in shares of First American Financial by 66.9% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 210 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of First American Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 230 shares in the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FAF. Truist Financial raised their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research 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 research report on Friday, February 14th. Barclays lifted their price objective on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $74.00 to $75.00 and gave the stock 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 stock. Based on data from MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and a consensus target price of $74.50.

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.