Dennis J. Gilmore Sells 111,971 Shares of First American Financial Co. (NYSE:FAF) Stock

First American Financial Co. (NYSE:FAF) Director Dennis J. Gilmore sold 111,971 shares of the company’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 $31,454,906.40. The trade was a 18.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

First American Financial Stock Performance

Shares of FAF opened at $63.22 on Friday. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 50.58 and a beta of 1.33. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The stock has a fifty day moving average of $62.56 and a 200-day moving average of $64.02.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. As a group, equities analysts forecast that First American Financial Co. will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.42%. First American Financial’s payout ratio is 172.80%.

Institutional Trading of First American Financial

A number of institutional investors and hedge funds have recently bought and sold shares of FAF. Wellington Management Group LLP acquired a new stake in First American Financial in the third quarter valued at $95,638,000. Norges Bank acquired a new stake in First American Financial during the 4th quarter worth about $75,780,000. FMR LLC grew its holdings in First American Financial by 20.8% during the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider’s stock worth $377,559,000 after acquiring an additional 1,042,145 shares during the period. Corient Private Wealth LLC grew its holdings in First American Financial by 13,222.0% during the 4th quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider’s stock worth $53,029,000 after acquiring an additional 842,904 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in First American Financial by 500.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider’s stock worth $62,646,000 after acquiring an additional 836,314 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FAF has been the subject of several recent analyst reports. Stephens upped their target price on First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Barclays increased their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on First American Financial from $74.00 to $75.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Truist Financial increased their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

About First American Financial

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.