Heartland Advisors Inc. Sells 8,415 Shares of First American Financial Corporation $FAF

Heartland Advisors Inc. trimmed its stake in shares of First American Financial Corporation (NYSE:FAF) by 23.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,945 shares of the insurance provider’s stock after selling 8,415 shares during the period. Heartland Advisors Inc.’s holdings in First American Financial were worth $1,625,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Duncker Streett & Co. Inc. boosted its stake in First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 376 shares during the period. V Square Quantitative Management LLC bought a new position in First American Financial during the 4th quarter worth about $27,000. Global Retirement Partners LLC raised its stake in shares of First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 443 shares during the period. Danske Bank A S acquired a new stake in shares of First American Financial in the 3rd quarter valued at about $45,000. Finally, IFP Advisors Inc raised its stake in shares of First American Financial by 568.8% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 637 shares during the period. 89.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FAF shares. Barclays upped their price objective 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. Weiss Ratings raised First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Stephens restated an “overweight” rating and issued a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods cut their target price on First American Financial from $87.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Finally, Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, First American Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

First American Financial Trading Up 0.1%

Shares of FAF stock opened at $73.07 on Monday. The firm’s fifty day moving average price is $67.97 and its two-hundred day moving average price is $65.65. First American Financial Corporation has a 1 year low of $55.78 and a 1 year high of $73.50. The firm has a market capitalization of $7.45 billion, a P/E ratio of 11.22, a PEG ratio of 0.71 and a beta of 1.23.

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

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, June 8th. First American Financial’s dividend payout ratio is presently 33.79%.

Insider Activity

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

About First American Financial

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.