Diversify Wealth Management LLC Lowers Position in First American Financial Corporation (NYSE:FAF)

Diversify Wealth Management LLC decreased its position in First American Financial Corporation (NYSE:FAF) by 20.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,282 shares of the insurance provider’s stock after selling 822 shares during the period. Diversify Wealth Management LLC’s holdings in First American Financial were worth $201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System boosted its holdings in First American Financial by 1.2% during the first quarter. State of Michigan Retirement System now owns 24,664 shares of the insurance provider’s stock worth $1,619,000 after buying an additional 300 shares in the last quarter. Cerity Partners LLC boosted its holdings in First American Financial by 23.9% during the first quarter. Cerity Partners LLC now owns 33,033 shares of the insurance provider’s stock worth $2,168,000 after buying an additional 6,374 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in First American Financial by 44.8% during the first quarter. Nisa Investment Advisors LLC now owns 13,807 shares of the insurance provider’s stock worth $906,000 after buying an additional 4,274 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in First American Financial by 5.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 28,632 shares of the insurance provider’s stock worth $1,879,000 after buying an additional 1,540 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in First American Financial by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 132,150 shares of the insurance provider’s stock worth $8,673,000 after buying an additional 3,557 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FAF shares. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Wall Street Zen downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Barclays reduced their price target on shares of First American Financial from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.50.

First American Financial Price Performance

NYSE:FAF opened at $56.37 on Tuesday. The firm has a 50 day simple moving average of $58.83 and a 200-day simple moving average of $61.23. The firm has a market cap of $5.80 billion, a PE ratio of 37.33 and a beta of 1.24. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. First American Financial had a net margin of 2.52% and a return on equity of 10.05%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, sell-side analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Monday, June 9th. First American Financial’s dividend payout ratio is presently 143.05%.

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.