Sei Investments Co. Lowers Position in First American Financial Corporation $FAF

Sei Investments Co. trimmed its position in shares of First American Financial Corporation (NYSE:FAF) by 64.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,190 shares of the insurance provider’s stock after selling 190,776 shares during the quarter. Sei Investments Co. owned 0.10% of First American Financial worth $6,401,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Equitable Trust Co. boosted its holdings in First American Financial by 2.3% in the 1st quarter. Equitable Trust Co. now owns 6,980 shares of the insurance provider’s stock valued at $421,000 after purchasing an additional 160 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in shares of First American Financial by 2.4% in the 4th quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock valued at $461,000 after buying an additional 175 shares during the period. Inscription Capital LLC lifted its holdings in shares of First American Financial by 2.4% in the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock valued at $469,000 after buying an additional 181 shares during the period. Danske Bank A S boosted its stake in shares of First American Financial by 28.6% in the fourth quarter. Danske Bank A S now owns 900 shares of the insurance provider’s stock valued at $55,000 after buying an additional 200 shares in the last quarter. Finally, Quarry LP grew its holdings in First American Financial by 14.0% during the fourth quarter. Quarry LP now owns 1,658 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 203 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Transactions at First American Financial

In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of First American Financial stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the transaction, the chief accounting officer owned 10,234 shares in the company, valued at approximately $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.50% of the company’s stock.

First American Financial Stock Performance

FAF opened at $75.38 on Tuesday. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.70 and a beta of 1.22. First American Financial Corporation has a one year low of $56.20 and a one year high of $79.87. The business’s fifty day moving average is $69.42 and its two-hundred day moving average is $66.66.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.28. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.03 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $1.53 earnings per share. On average, analysts predict that First American Financial Corporation will post 7.02 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, June 8th. First American Financial’s dividend payout ratio (DPR) is 30.47%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FAF shares. Barclays increased their price objective on First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Benchmark initiated coverage on shares of First American Financial in a report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price target for the company. Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Stephens restated an “overweight” rating and set a $84.00 target price on shares of First American Financial in a research report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.60.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.