First American Financial Corporation $FAF Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its position in First American Financial Corporation (NYSE:FAF) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 953,168 shares of the insurance provider’s stock after selling 73,312 shares during the period. Manning & Napier Advisors LLC’s holdings in First American Financial were worth $57,466,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FAF. Boston Partners boosted its holdings in shares of First American Financial by 8.9% in the third quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after acquiring an additional 500,649 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in 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 purchasing an additional 5,786,134 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First American Financial by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,391,185 shares of the insurance provider’s stock valued at $269,799,000 after purchasing an additional 97,612 shares during the period. Capital Research Global Investors boosted its holdings in First American Financial by 3.3% in the 4th quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock valued at $209,868,000 after purchasing an additional 109,242 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in First American Financial by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,793,179 shares of the insurance provider’s stock valued at $110,200,000 after purchasing an additional 19,752 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Margaret M. Mccarthy sold 6,630 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $70.59, for a total value of $468,011.70. Following the completion of the transaction, the director owned 24,024 shares in the company, valued at $1,695,854.16. This trade represents a 21.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the transaction, the senior vice president directly owned 29,635 shares of the company’s stock, valued at $2,033,850.05. This trade represents a 16.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FAF shares. Truist Financial increased their target price on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Zacks Research downgraded First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Stephens reaffirmed an “overweight” rating and set a $84.00 price objective on shares of First American Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods cut their price objective on First American Financial from $87.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Finally, Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

First American Financial Price Performance

Shares of FAF stock traded down $0.97 during midday trading on Friday, reaching $69.29. 700,734 shares of the company traded hands, compared to its average volume of 999,516. The firm’s 50 day simple moving average is $67.87 and its two-hundred day simple moving average is $65.29. The firm has a market cap of $7.06 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.68 and a beta of 1.23. First American Financial Corporation has a 1-year low of $54.19 and a 1-year high of $71.93.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. As a group, research analysts anticipate that First American Financial Corporation will post 6.75 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.20 annualized dividend and a yield of 3.2%. First American Financial’s dividend payout ratio is 33.79%.

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.