Los Angeles Capital Management LLC Trims Stake in First American Financial Co. (NYSE:FAF)

Los Angeles Capital Management LLC lessened its holdings in shares of First American Financial Co. (NYSE:FAF) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,178 shares of the insurance provider’s stock after selling 5,904 shares during the period. Los Angeles Capital Management LLC owned about 0.06% of First American Financial worth $3,613,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FAF. Norges Bank bought a new stake in shares of First American Financial during the 4th quarter worth approximately $76,210,000. Boston Partners lifted its position in shares of First American Financial by 13.4% during the fourth quarter. Boston Partners now owns 3,594,563 shares of the insurance provider’s stock worth $231,608,000 after purchasing an additional 425,243 shares during the last quarter. MKP Capital Management L.L.C. purchased a new stake in shares of First American Financial during the fourth quarter valued at $25,776,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of First American Financial by 46.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,229,294 shares of the insurance provider’s stock worth $79,216,000 after purchasing an additional 387,848 shares during the last quarter. Finally, Basswood Capital Management L.L.C. increased its stake in First American Financial by 91.5% in the 4th quarter. Basswood Capital Management L.L.C. now owns 455,127 shares of the insurance provider’s stock worth $29,328,000 after buying an additional 217,496 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FAF. Stephens restated an “overweight” rating and issued a $72.00 target price on shares of First American Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods raised First American Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $66.00 to $69.00 in a research note on Thursday, March 21st. Finally, TheStreet lowered First American Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.75.

First American Financial Trading Up 1.6 %

Shares of NYSE FAF opened at $53.95 on Friday. First American Financial Co. has a 12-month low of $49.55 and a 12-month high of $65.54. The stock’s fifty day simple moving average is $55.06 and its two-hundred day simple moving average is $58.36. The stock has a market capitalization of $5.60 billion, a PE ratio of 25.81 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. First American Financial had a net margin of 3.64% and a return on equity of 8.17%. First American Financial’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. On average, equities analysts predict that First American Financial Co. will post 3.82 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.12 annualized dividend and a dividend yield of 3.93%. First American Financial’s dividend payout ratio (DPR) is presently 101.44%.

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.