Comerica Securities Inc. acquired a new stake in First American Corporation (The) (NYSE:FAF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,538 shares of the insurance provider’s stock, valued at approximately $1,678,000.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning lifted its holdings in shares of First American Corporation (The) by 5.3% in the second quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock valued at $102,000 after buying an additional 114 shares during the period. First Bank & Trust lifted its holdings in shares of First American Corporation (The) by 46.6% in the second quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock valued at $117,000 after buying an additional 833 shares during the period. Glen Harbor Capital Management LLC lifted its holdings in shares of First American Corporation (The) by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 2,960 shares of the insurance provider’s stock valued at $116,000 after buying an additional 80 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First American Corporation (The) by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock valued at $170,000 after buying an additional 298 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of First American Corporation (The) in the first quarter valued at $169,000. Institutional investors and hedge funds own 83.16% of the company’s stock.

In related news, CFO Mark Edward Seaton sold 7,000 shares of First American Corporation (The) stock in a transaction on Friday, August 18th. The stock was sold at an average price of $48.33, for a total transaction of $338,310.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by insiders.

FAF has been the subject of several analyst reports. BidaskClub raised First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Zacks Investment Research raised First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a report on Monday, July 31st.

Shares of First American Corporation (FAF) traded down 0.12% during midday trading on Friday, hitting $48.70. The stock had a trading volume of 114,856 shares. First American Corporation has a one year low of $35.28 and a one year high of $49.57. The firm has a market capitalization of $5.39 billion, a PE ratio of 14.76 and a beta of 0.72. The firm’s 50-day moving average price is $48.42 and its 200-day moving average price is $43.52.

First American Corporation (The) (NYSE:FAF) last announced its quarterly earnings data on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.18. First American Corporation (The) had a return on equity of 12.22% and a net margin of 6.38%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that First American Corporation will post $3.40 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from First American Corporation (The)’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.12%. First American Corporation (The)’s payout ratio is 46.06%.

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About First American Corporation (The)

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 Corporation (The) (NYSE:FAF)

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