First American Financial Corporation $FAF Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its position in First American Financial Corporation (NYSE:FAF) by 64.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,190 shares of the insurance provider’s stock after selling 190,776 shares during the quarter. Sei Investments Co.’s holdings in First American Financial were worth $6,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of First American Financial by 4,485,375.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock worth $355,508,000 after buying an additional 5,786,134 shares in the last quarter. Norges Bank purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $75,011,000. Manning & Napier Advisors LLC purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $63,693,000. First Trust Advisors LP boosted its position in First American Financial by 110.2% during the first quarter. First Trust Advisors LP now owns 1,304,820 shares of the insurance provider’s stock worth $78,668,000 after acquiring an additional 684,117 shares during the last quarter. Finally, Boston Partners boosted its position in First American Financial by 8.9% during the third quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock worth $393,690,000 after acquiring an additional 500,649 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stephens reiterated an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods raised their price objective on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Truist Financial lifted their price objective on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Finally, Barclays increased their target price 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. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.60.

Insiders Place Their Bets

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

First American Financial Stock Up 0.5%

NYSE:FAF opened at $75.38 on Tuesday. The company has a market cap of $7.70 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.70 and a beta of 1.22. First American Financial Corporation has a fifty-two week low of $56.20 and a fifty-two week high of $79.87. The firm’s 50 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. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $1.53 EPS. First American Financial’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts forecast that First American Financial Corporation will post 7.02 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

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

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.