First American Financial Co. (NYSE:FAF) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its holdings in First American Financial Co. (NYSE:FAF) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 43,141 shares of the insurance provider’s stock after selling 1,217 shares during the period. State of Tennessee Department of Treasury’s holdings in First American Financial were worth $2,694,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FAF. Parkside Financial Bank & Trust lifted its holdings in First American Financial by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock worth $84,000 after acquiring an additional 173 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of First American Financial by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 3,247 shares of the insurance provider’s stock worth $203,000 after purchasing an additional 179 shares during the period. UMB Bank n.a. raised its position in shares of First American Financial by 66.9% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 210 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of First American Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider’s stock worth $94,000 after purchasing an additional 230 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in First American Financial by 57.6% during the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 245 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Stock Performance

NYSE:FAF opened at $60.98 on Monday. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 48.78 and a beta of 1.23. First American Financial Co. has a 1 year low of $51.85 and a 1 year high of $70.92. The business has a fifty day moving average of $62.89 and a 200-day moving average of $63.72.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. On average, equities research analysts predict that First American Financial Co. will post 5.35 EPS for the current year.

Insider Activity

In other news, Director Dennis J. Gilmore sold 111,971 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $63.60, for a total value of $7,121,355.60. Following the sale, the director now owns 494,574 shares of the company’s stock, valued at approximately $31,454,906.40. The trade was a 18.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lisa W. Cornehl sold 3,057 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total value of $200,202.93. Following the completion of the sale, the senior vice president now owns 23,825 shares of the company’s stock, valued at approximately $1,560,299.25. This trade represents a 11.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,707 shares of company stock worth $8,136,565 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FAF shares. Barclays increased their target price on First American Financial from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday. Stephens increased their price objective on shares of First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Tuesday, April 8th. Finally, StockNews.com upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.50.

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.