PNC Financial Services Group Inc. Sells 229 Shares of First American Financial Co. (NYSE:FAF)

PNC Financial Services Group Inc. lowered its position in First American Financial Co. (NYSE:FAF) by 6.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,513 shares of the insurance provider’s stock after selling 229 shares during the period. PNC Financial Services Group Inc.’s holdings in First American Financial were worth $226,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FAF. Beacon Financial Group bought a new position in shares of First American Financial during the 4th quarter valued at about $268,000. Ogborne Capital Management LLC bought a new position in shares of First American Financial during the 4th quarter valued at about $3,222,000. Park West Asset Management LLC bought a new position in shares of First American Financial during the 4th quarter valued at about $12,695,000. Basswood Capital Management L.L.C. boosted its holdings in shares of First American Financial by 91.5% during the 4th quarter. Basswood Capital Management L.L.C. now owns 455,127 shares of the insurance provider’s stock valued at $29,328,000 after purchasing an additional 217,496 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of First American Financial by 21.3% during the 4th quarter. Verition Fund Management LLC now owns 196,081 shares of the insurance provider’s stock valued at $12,635,000 after purchasing an additional 34,444 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

FAF has been the subject of a number of analyst reports. TheStreet downgraded shares of First American Financial from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $66.00 to $69.00 in a report on Thursday, March 21st. Finally, Stephens reaffirmed an “overweight” rating and issued a $72.00 price target on shares of First American Financial in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.75.

First American Financial Price Performance

First American Financial stock opened at $53.38 on Tuesday. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $65.54. The firm has a market capitalization of $5.54 billion, a P/E ratio of 25.54 and a beta of 1.28. The company’s 50-day moving average is $54.74 and its 200 day moving average is $57.89.

First American Financial (NYSE:FAF) last posted 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). First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts anticipate that First American Financial Co. will post 3.82 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s dividend payout ratio (DPR) is currently 101.44%.

First American Financial Company Profile

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.