First American Financial Corp (FAF) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. cut its position in shares of First American Financial Corp (NYSE:FAF) by 37.7% in the 1st quarter, Holdings Channel reports. The fund owned 6,774 shares of the insurance provider’s stock after selling 4,100 shares during the period. Connors Investor Services Inc.’s holdings in First American Financial were worth $349,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of First American Financial by 9.4% in the fourth quarter. Bank of America Corp DE now owns 647,574 shares of the insurance provider’s stock valued at $28,907,000 after buying an additional 55,668 shares in the last quarter. JOYN Advisors Inc. grew its stake in shares of First American Financial by 540.0% in the fourth quarter. JOYN Advisors Inc. now owns 608 shares of the insurance provider’s stock valued at $27,000 after buying an additional 513 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of First American Financial by 1,170.5% in the first quarter. Quadrant Capital Group LLC now owns 991 shares of the insurance provider’s stock valued at $49,000 after buying an additional 913 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of First American Financial by 24.5% in the fourth quarter. Two Sigma Advisers LP now owns 358,974 shares of the insurance provider’s stock valued at $16,025,000 after buying an additional 70,746 shares in the last quarter. Finally, Fulcrum Equity Management acquired a new stake in shares of First American Financial in the fourth quarter valued at about $258,000. Institutional investors own 83.10% of the company’s stock.

A number of equities research analysts have weighed in on FAF shares. Compass Point lowered First American Financial from a “buy” rating to a “neutral” rating and set a $57.88 price objective for the company. in a research note on Monday, April 29th. Zacks Investment Research upgraded First American Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, April 16th. ValuEngine upgraded First American Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Piper Jaffray Companies upgraded First American Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $67.00 in a research note on Monday, April 1st. Finally, Barclays set a $58.00 price objective on First American Financial and gave the company a “buy” rating in a research note on Friday, February 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.58.

In related news, COO Christopher Michael Leavell sold 35,235 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $54.44, for a total value of $1,918,193.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth D. Degiorgio sold 26,658 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $57.00, for a total value of $1,519,506.00. The disclosure for this sale can be found here. In the last three months, insiders sold 63,293 shares of company stock worth $3,519,235. Company insiders own 3.00% of the company’s stock.

NYSE:FAF opened at $51.65 on Monday. First American Financial Corp has a 52 week low of $41.96 and a 52 week high of $58.29. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.00 and a beta of 0.93.

First American Financial (NYSE:FAF) last released its earnings results on Thursday, April 25th. The insurance provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. First American Financial had a return on equity of 14.51% and a net margin of 8.83%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the business posted $0.67 EPS. First American Financial’s quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts expect that First American Financial Corp will post 4.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, June 7th. First American Financial’s dividend payout ratio (DPR) is 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.

Further Reading: Stop Order Uses For Individual Investors

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

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