Anchor Capital Advisors LLC trimmed its position in First American Financial Corp (NYSE:FAF) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 821,834 shares of the insurance provider’s stock after selling 20,757 shares during the quarter. First American Financial comprises 1.6% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Anchor Capital Advisors LLC’s holdings in First American Financial were worth $46,056,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in FAF. PNC Financial Services Group Inc. raised its holdings in shares of First American Financial by 55.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,009 shares of the insurance provider’s stock worth $626,000 after purchasing an additional 4,999 shares during the period. Suntrust Banks Inc. purchased a new position in shares of First American Financial in the 2nd quarter worth about $207,000. Parametric Portfolio Associates LLC raised its holdings in shares of First American Financial by 5.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 157,080 shares of the insurance provider’s stock worth $7,020,000 after purchasing an additional 8,728 shares during the period. Stifel Financial Corp raised its holdings in shares of First American Financial by 17.9% in the 2nd quarter. Stifel Financial Corp now owns 13,083 shares of the insurance provider’s stock worth $586,000 after purchasing an additional 1,989 shares during the period. Finally, HighTower Advisors LLC purchased a new position in shares of First American Financial in the 2nd quarter worth about $516,000. Institutional investors own 84.06% of the company’s stock.
In related news, COO Christopher Michael Leavell sold 75,843 shares of the firm’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 can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.
First American Financial (NYSE:FAF) last announced its earnings results on Thursday, February 8th. The insurance provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. First American Financial had a return on equity of 14.30% and a net margin of 4.88%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. analysts expect that First American Financial Corp will post 3.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors 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 dividend yield of 2.76%. First American Financial’s payout ratio is currently 60.08%.
A number of equities analysts have recently commented on the company. ValuEngine upgraded First American Financial from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded First American Financial from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a report on Monday, October 30th. Barclays raised their target price on First American Financial from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Finally, Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a report on Monday, January 8th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. First American Financial currently has an average rating of “Buy” and a consensus price target of $54.00.
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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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