OLD National Bancorp IN Sells 1,503 Shares of First American Financial Co. (NYSE:FAF)

OLD National Bancorp IN trimmed its position in First American Financial Co. (NYSE:FAF) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,438 shares of the insurance provider’s stock after selling 1,503 shares during the quarter. OLD National Bancorp IN’s holdings in First American Financial were worth $4,951,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FAF. Norges Bank bought a new stake in shares of First American Financial in the fourth quarter worth about $75,780,000. FMR LLC raised its position in First American Financial by 20.8% during the fourth quarter. FMR LLC now owns 6,046,743 shares of the insurance provider’s stock valued at $377,559,000 after purchasing an additional 1,042,145 shares during the period. Corient Private Wealth LLC raised its position in First American Financial by 13,222.0% during the fourth quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider’s stock valued at $53,029,000 after purchasing an additional 842,904 shares during the period. Lazard Asset Management LLC grew its stake in shares of First American Financial by 500.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider’s stock valued at $62,646,000 after buying an additional 836,314 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of First American Financial by 6,233.2% during the fourth quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider’s stock valued at $44,096,000 after buying an additional 695,060 shares during the last quarter. 89.05% of the stock is owned by institutional investors.

First American Financial Stock Up 1.1%

Shares of NYSE:FAF opened at $56.37 on Monday. First American Financial Co. has a 52-week low of $51.85 and a 52-week high of $70.92. The stock has a market cap of $5.80 billion, a P/E ratio of 45.10 and a beta of 1.22. The business’s 50 day moving average is $59.18 and its 200 day moving average is $62.42.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.19. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. First American Financial’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that First American Financial Co. will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.54 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.16 annualized dividend and a yield of 3.83%. First American Financial’s dividend payout ratio (DPR) is currently 143.05%.

Analyst Ratings Changes

FAF has been the topic of a number of analyst reports. Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a research note on Friday. Stephens upped their target price on First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods upped their target price on First American Financial from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Barclays upped their target price on First American Financial from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.00.

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.