Wells Fargo & Company MN raised its position in shares of First American Financial Corp (NYSE:FAF) by 27.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 854,213 shares of the insurance provider’s stock after purchasing an additional 181,606 shares during the period. Wells Fargo & Company MN’s holdings in First American Financial were worth $43,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAF. Lunia Capital LP raised its position in shares of First American Financial by 2,384.2% in the 4th quarter. Lunia Capital LP now owns 6,088,762 shares of the insurance provider’s stock worth $6,089,000 after acquiring an additional 5,843,667 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of First American Financial by 4,404.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,973,445 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 1,929,636 shares in the last quarter. FMR LLC raised its position in shares of First American Financial by 19.3% in the 4th quarter. FMR LLC now owns 9,135,859 shares of the insurance provider’s stock worth $407,825,000 after acquiring an additional 1,477,309 shares in the last quarter. Norges Bank bought a new position in shares of First American Financial in the 4th quarter worth $63,323,000. Finally, First Trust Advisors LP raised its position in shares of First American Financial by 166.4% in the 4th quarter. First Trust Advisors LP now owns 859,392 shares of the insurance provider’s stock worth $38,363,000 after acquiring an additional 536,765 shares in the last quarter. 83.10% of the stock is owned by institutional investors and hedge funds.

In related news, COO Christopher Michael Leavell sold 35,235 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $54.44, for a total transaction of $1,918,193.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kenneth D. Degiorgio sold 1,400 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $58.24, for a total value of $81,536.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,293 shares of company stock worth $3,519,235 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on FAF shares. Piper Jaffray Companies raised First American Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $59.00 to $67.00 in a research report on Monday, April 1st. Compass Point lowered First American Financial from a “buy” rating to a “neutral” rating and set a $57.88 price target for the company. in a research report on Monday, April 29th. Barclays set a $58.00 price target on First American Financial and gave the stock a “buy” rating in a research report on Friday, February 15th. ValuEngine lowered First American Financial from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Finally, Zacks Investment Research raised First American Financial from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.58.

NYSE:FAF traded up $0.15 during mid-day trading on Wednesday, hitting $52.90. 12,948 shares of the company’s stock traded hands, compared to its average volume of 564,653. First American Financial Corp has a twelve month low of $41.96 and a twelve month high of $58.29. The firm has a market capitalization of $5.91 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.01 and a beta of 0.93.

First American Financial (NYSE:FAF) last announced its earnings results on Thursday, April 25th. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $0.67 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that First American Financial Corp will post 4.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, June 7th. First American Financial’s dividend payout ratio is currently 36.68%.

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About First American Financial

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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