Fisher Asset Management LLC Reduces Stock Holdings in First American Financial Co. (NYSE:FAF)

Fisher Asset Management LLC reduced its position in First American Financial Co. (NYSE:FAF) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 514,483 shares of the insurance provider’s stock after selling 37,006 shares during the quarter. Fisher Asset Management LLC’s holdings in First American Financial were worth $32,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in FAF. Wealth Enhancement Advisory Services LLC increased its holdings in First American Financial by 32.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,436 shares of the insurance provider’s stock worth $1,019,000 after acquiring an additional 3,773 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of First American Financial by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,953 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 810 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of First American Financial by 94.5% in the third quarter. Harbor Capital Advisors Inc. now owns 82,156 shares of the insurance provider’s stock worth $5,423,000 after purchasing an additional 39,924 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of First American Financial by 7.0% in the third quarter. QRG Capital Management Inc. now owns 33,864 shares of the insurance provider’s stock valued at $2,235,000 after purchasing an additional 2,226 shares during the period. Finally, 1834 Investment Advisors Co. lifted its stake in shares of First American Financial by 1.5% during the 3rd quarter. 1834 Investment Advisors Co. now owns 29,604 shares of the insurance provider’s stock valued at $1,954,000 after buying an additional 425 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

First American Financial Trading Up 1.9 %

Shares of NYSE:FAF opened at $65.65 on Monday. The company has a 50 day moving average of $62.64 and a 200 day moving average of $64.24. The stock has a market cap of $6.75 billion, a P/E ratio of 52.52 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.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, topping 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 Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

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 issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.29%. First American Financial’s payout ratio is currently 172.80%.

Insider Activity

In other news, CFO Mark Edward Seaton sold 12,679 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $64.28, for a total transaction of $815,006.12. Following the sale, the chief financial officer now owns 195,812 shares in the company, valued at approximately $12,586,795.36. This trade represents a 6.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dennis J. Gilmore sold 111,971 shares of First American Financial stock in a transaction on Friday, February 14th. The stock was sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the sale, the director now directly owns 494,574 shares of the company’s stock, valued at $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,707 shares of company stock worth $8,136,565. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAF. Stephens lifted their price objective on shares of First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on 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. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.