First American Financial Corp (FAF) Holdings Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its position in First American Financial Corp (NYSE:FAF) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,491 shares of the insurance provider’s stock after selling 1,288 shares during the period. Wedge Capital Management L L P NC’s holdings in First American Financial were worth $980,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in First American Financial in the fourth quarter valued at approximately $129,000. Macquarie Group Ltd. bought a new stake in First American Financial in the third quarter valued at approximately $190,000. Verition Fund Management LLC bought a new stake in First American Financial in the second quarter valued at approximately $203,000. Suntrust Banks Inc. bought a new stake in First American Financial in the second quarter valued at approximately $207,000. Finally, Round Table Services LLC bought a new stake in First American Financial in the fourth quarter valued at approximately $210,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Christopher Michael Leavell sold 75,843 shares of the stock in a transaction on Friday, December 1st. The shares were 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 Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by corporate insiders.

Several equities research analysts have commented on the stock. ValuEngine raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stephens raised shares of First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. Zacks Investment Research raised shares of First American Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, December 28th. Finally, Barclays increased their price objective on shares of First American Financial from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.00.

Shares of First American Financial Corp (FAF) opened at $56.97 on Thursday. First American Financial Corp has a 12-month low of $37.51 and a 12-month high of $62.71. The stock has a market cap of $6,253.43, a price-to-earnings ratio of 16.03, a PEG ratio of 1.03 and a beta of 0.79.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, March 7th. First American Financial’s dividend payout ratio is 60.08%.

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First American Financial Profile

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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