Crossmark Global Holdings Inc. cut its holdings in First American Financial Corp (NYSE:FAF) by 24.0% during the 4th quarter, HoldingsChannel reports. The fund owned 12,006 shares of the insurance provider’s stock after selling 3,782 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in First American Financial were worth $673,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in FAF. Cerebellum GP LLC acquired a new position in shares of First American Financial in the fourth quarter valued at about $129,000. Macquarie Group Ltd. acquired a new position in shares of First American Financial in the third quarter valued at about $190,000. Verition Fund Management LLC acquired a new position in shares of First American Financial in the second quarter valued at about $203,000. Round Table Services LLC acquired a new position in shares of First American Financial in the fourth quarter valued at about $210,000. Finally, Guardian Capital LP acquired a new position in shares of First American Financial in the third quarter valued at about $222,000. Institutional investors and hedge funds own 83.59% of the company’s stock.
Several equities analysts recently commented on FAF shares. ValuEngine upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays upped their price target on shares of First American Financial from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Stephens upgraded shares of First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. Finally, Zacks Investment Research upgraded shares of First American Financial from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research note on Monday, October 30th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $57.33.
First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. First American Financial had a net margin of 7.33% and a return on equity of 13.92%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. equities research analysts expect that First American Financial Corp will post 4.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.67%. First American Financial’s payout ratio is 40.43%.
In other First American Financial news, COO Christopher Michael Leavell sold 75,843 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $55.25, for a total transaction of $4,190,325.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company’s stock.
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First American Financial Profile
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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