Cadence Capital Management LLC decreased its position in shares of First American Corporation (The) (NYSE:FAF) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,651 shares of the insurance provider’s stock after selling 1,418 shares during the period. Cadence Capital Management LLC’s holdings in First American Corporation (The) were worth $521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FAF. BlackRock Inc. raised its position in First American Corporation (The) by 3,956.3% in the first quarter. BlackRock Inc. now owns 9,926,367 shares of the insurance provider’s stock worth $389,909,000 after buying an additional 9,681,653 shares during the period. State Street Corp raised its position in First American Corporation (The) by 3.7% in the first quarter. State Street Corp now owns 3,541,023 shares of the insurance provider’s stock worth $139,091,000 after buying an additional 126,125 shares during the period. Fisher Asset Management LLC raised its position in First American Corporation (The) by 5.1% in the second quarter. Fisher Asset Management LLC now owns 1,479,732 shares of the insurance provider’s stock worth $66,129,000 after buying an additional 71,581 shares during the period. Hamlin Capital Management LLC raised its position in First American Corporation (The) by 37.1% in the second quarter. Hamlin Capital Management LLC now owns 1,411,501 shares of the insurance provider’s stock worth $63,080,000 after buying an additional 382,145 shares during the period. Finally, Anchor Capital Advisors LLC raised its position in First American Corporation (The) by 0.4% in the first quarter. Anchor Capital Advisors LLC now owns 919,026 shares of the insurance provider’s stock worth $36,099,000 after buying an additional 3,676 shares during the period. 83.12% of the stock is owned by institutional investors.

First American Corporation (NYSE:FAF) opened at 48.53 on Wednesday. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 14.71 and a beta of 0.73. The company’s 50-day moving average price is $47.29 and its 200-day moving average price is $42.66. First American Corporation has a 52-week low of $35.28 and a 52-week high of $49.48.

First American Corporation (The) (NYSE:FAF) last announced its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.18. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned $0.92 EPS. First American Corporation (The)’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that First American Corporation will post $3.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be paid a dividend of $0.38 per share. This is a positive change from First American Corporation (The)’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, September 7th. First American Corporation (The)’s dividend payout ratio (DPR) is currently 41.21%.

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FAF has been the subject of a number of analyst reports. BidaskClub raised First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research report on Monday, July 31st.

In related news, CFO Mark Edward Seaton sold 7,000 shares of First American Corporation (The) stock in a transaction on Friday, August 18th. The shares were sold at an average price of $48.33, for a total transaction of $338,310.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.10% of the stock is owned by company insiders.

First American Corporation (The) Company 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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Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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