Heartland Advisors Inc. Cuts Stake in First American Financial Co. (NYSE:FAF)

Heartland Advisors Inc. cut its holdings in First American Financial Co. (NYSE:FAF) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 298,475 shares of the insurance provider’s stock after selling 13,273 shares during the quarter. First American Financial accounts for approximately 1.0% of Heartland Advisors Inc.’s portfolio, making the stock its 22nd largest position. Heartland Advisors Inc.’s holdings in First American Financial were worth $18,637,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FAF. Charles Schwab Investment Management Inc. raised its stake in shares of First American Financial by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,145 shares of the insurance provider’s stock worth $73,809,000 after purchasing an additional 8,315 shares during the last quarter. Cerity Partners LLC lifted its position in First American Financial by 74.2% during the third quarter. Cerity Partners LLC now owns 36,609 shares of the insurance provider’s stock valued at $2,417,000 after purchasing an additional 15,589 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in First American Financial in the third quarter valued at $368,000. Blueshift Asset Management LLC purchased a new position in shares of First American Financial during the 3rd quarter valued at about $471,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First American Financial by 9.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,743 shares of the insurance provider’s stock valued at $1,237,000 after buying an additional 1,635 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Transactions at First American Financial

In related news, Director Dennis J. Gilmore sold 111,971 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $63.60, for a total value of $7,121,355.60. Following the completion of the transaction, the director now directly owns 494,574 shares in the company, valued at approximately $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total value of $200,202.93. Following the completion of the sale, the senior vice president now owns 23,825 shares in the company, valued at $1,560,299.25. This represents a 11.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,707 shares of company stock worth $8,136,565 in the last quarter. Company insiders own 3.70% of the company’s stock.

First American Financial Trading Up 1.2 %

NYSE:FAF opened at $66.51 on Friday. The firm has a market cap of $6.86 billion, a P/E ratio of 53.21 and a beta of 1.34. The stock has a 50 day moving average of $63.81 and a two-hundred day moving average of $64.40. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. On average, research analysts forecast that First American Financial Co. will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Monday, March 10th. First American Financial’s payout ratio is currently 172.80%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FAF. Stephens lifted their price target on First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on First American Financial from $74.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th.

First American Financial 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.