Mackay Shields LLC Decreases Position in First American Financial Corp (FAF)

Mackay Shields LLC decreased its position in shares of First American Financial Corp (NYSE:FAF) by 35.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 228,531 shares of the insurance provider’s stock after selling 125,269 shares during the quarter. Mackay Shields LLC owned 0.20% of First American Financial worth $10,202,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in First American Financial by 6.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 109,113 shares of the insurance provider’s stock worth $5,626,000 after purchasing an additional 6,810 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in First American Financial by 129.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,383 shares of the insurance provider’s stock valued at $845,000 after acquiring an additional 9,249 shares during the period. LSV Asset Management lifted its stake in First American Financial by 4.9% during the 3rd quarter. LSV Asset Management now owns 880,638 shares of the insurance provider’s stock valued at $45,432,000 after acquiring an additional 41,300 shares during the period. Prudential Financial Inc. lifted its stake in First American Financial by 0.7% during the 3rd quarter. Prudential Financial Inc. now owns 1,343,796 shares of the insurance provider’s stock valued at $69,326,000 after acquiring an additional 8,914 shares during the period. Finally, Rhumbline Advisers lifted its stake in First American Financial by 4.6% during the 3rd quarter. Rhumbline Advisers now owns 268,238 shares of the insurance provider’s stock valued at $13,838,000 after acquiring an additional 11,917 shares during the period. 83.54% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Kenneth D. Degiorgio sold 5,204 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $51.53, for a total transaction of $268,162.12. Following the completion of the sale, the executive vice president now owns 504,942 shares of the company’s stock, valued at approximately $26,019,661.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth D. Degiorgio sold 7,052 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.07, for a total transaction of $360,145.64. Following the sale, the executive vice president now directly owns 448,026 shares of the company’s stock, valued at approximately $22,880,687.82. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on FAF shares. Zacks Investment Research cut shares of First American Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. ValuEngine upgraded shares of First American Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Barclays set a $58.00 target price on shares of First American Financial and gave the company a “buy” rating in a research note on Friday, February 15th. Finally, Compass Point started coverage on shares of First American Financial in a research note on Thursday, January 24th. They set a “buy” rating and a $58.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. First American Financial currently has an average rating of “Hold” and a consensus price target of $55.20.

FAF opened at $50.05 on Friday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.00 and a beta of 0.85. First American Financial Corp has a 52-week low of $41.96 and a 52-week high of $61.50.

First American Financial (NYSE:FAF) last posted its earnings results on Thursday, February 14th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.13. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.46 billion. First American Financial had a net margin of 8.26% and a return on equity of 14.87%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. On average, equities research analysts forecast that First American Financial Corp will post 4.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.36%. The ex-dividend date was Thursday, March 7th. First American Financial’s dividend payout ratio is currently 36.68%.

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First American Financial Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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