State Treasurer State of Michigan decreased its position in shares of First American Financial Corp (NYSE:FAF) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,800 shares of the insurance provider’s stock after selling 1,800 shares during the period. State Treasurer State of Michigan’s holdings in First American Financial were worth $2,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerebellum GP LLC acquired a new position in First American Financial during the 4th quarter worth about $129,000. Round Table Services LLC acquired a new position in First American Financial during the 4th quarter worth about $210,000. Macquarie Group Ltd. acquired a new position in First American Financial during the 3rd quarter worth about $190,000. Guardian Capital LP acquired a new position in First American Financial during the 3rd quarter worth about $222,000. Finally, Verition Fund Management LLC acquired a new position in First American Financial during the 2nd quarter worth about $203,000. 83.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First American Financial Corp (NYSE:FAF) opened at $54.32 on Monday. First American Financial Corp has a 1-year low of $37.51 and a 1-year high of $62.71. The firm has a market capitalization of $6,019.60, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.04. First American Financial had a return on equity of 13.92% and a net margin of 7.33%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the business earned $0.92 EPS. First American Financial’s revenue was down 1.5% on a year-over-year basis. analysts forecast that First American Financial Corp will post 4.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $1.52 annualized dividend and a yield of 2.80%. First American Financial’s dividend payout ratio (DPR) is 40.43%.

In other First American Financial news, COO Christopher Michael Leavell sold 75,843 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $55.25, for a total transaction of $4,190,325.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.10% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on FAF shares. Barclays increased their target price on First American Financial from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Zacks Investment Research raised First American Financial from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research note on Monday, October 30th. Stephens raised First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. Finally, ValuEngine raised First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $57.33.

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About First American Financial

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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