Municipal Employees Retirement System of Michigan decreased its holdings in shares of First American Corporation (The) (NYSE:FAF) by 21.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,490 shares of the insurance provider’s stock after selling 9,080 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in First American Corporation (The) were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Creative Planning increased its stake in shares of First American Corporation (The) by 5.3% in the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 114 shares during the last quarter. First Bank & Trust increased its stake in shares of First American Corporation (The) by 46.6% in the 2nd quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock worth $117,000 after acquiring an additional 833 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of First American Corporation (The) by 352.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock worth $120,000 after acquiring an additional 2,100 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of First American Corporation (The) by 78.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock worth $136,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First American Corporation (The) by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock worth $170,000 after acquiring an additional 298 shares during the last quarter. Institutional investors own 83.84% of the company’s stock.

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In other First American Corporation (The) news, CFO Mark Edward Seaton sold 9,981 shares of First American Corporation (The) stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $54.87, for a total value of $547,657.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth D. Degiorgio sold 7,337 shares of First American Corporation (The) stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $55.11, for a total value of $404,342.07. The disclosure for this sale can be found here. Insiders have sold a total of 117,318 shares of company stock valued at $6,449,000 over the last three months. Corporate insiders own 3.10% of the company’s stock.

Shares of First American Corporation (NYSE FAF) opened at $54.78 on Friday. The stock has a market capitalization of $6,020.71, a PE ratio of 15.44, a P/E/G ratio of 1.18 and a beta of 0.74. First American Corporation has a 52-week low of $35.28 and a 52-week high of $56.40.

First American Corporation (The) (NYSE:FAF) last issued its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. First American Corporation (The) had a return on equity of 14.30% and a net margin of 4.88%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. research analysts anticipate that First American Corporation will post 3.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, December 7th. First American Corporation (The)’s payout ratio is 60.08%.

A number of analysts have issued reports on FAF shares. Barclays PLC raised their target price on First American Corporation (The) from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. 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 research note on Monday, July 31st.

First American Corporation (The) 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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Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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