First American Financial Corp (FAF) Position Reduced by Bank of New York Mellon Corp
Bank of New York Mellon Corp cut its holdings in First American Financial Corp (NYSE:FAF) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,382,507 shares of the insurance provider’s stock after selling 74,850 shares during the period. Bank of New York Mellon Corp’s holdings in First American Financial were worth $77,476,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new position in First American Financial during the fourth quarter worth $129,000. Macquarie Group Ltd. acquired a new position in First American Financial during the third quarter worth $190,000. Round Table Services LLC acquired a new position in First American Financial during the fourth quarter worth $210,000. Greenleaf Trust acquired a new position in First American Financial during the fourth quarter worth $215,000. Finally, Doyle Wealth Management acquired a new position in First American Financial during the fourth quarter worth $218,000. Hedge funds and other institutional investors own 83.59% of the company’s stock.
Shares of First American Financial Corp (NYSE:FAF) opened at $57.01 on Friday. First American Financial Corp has a 12-month low of $37.51 and a 12-month high of $62.71. The firm has a market capitalization of $6,267.03, a price-to-earnings ratio of 15.16, a PEG ratio of 0.98 and a beta of 0.79.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 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 2.67%. The ex-dividend date of this dividend is Wednesday, March 7th. First American Financial’s dividend payout ratio is currently 40.43%.
FAF has been the topic of a number of research reports. Zacks Investment Research cut First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. ValuEngine upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Barclays decreased their price target on First American Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. First American Financial currently has a consensus rating of “Buy” and a consensus price target of $57.33.
About First American Financial
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.
Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Financial Corp (NYSE:FAF).
Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.