New York State Common Retirement Fund boosted its holdings in shares of First American Corporation (The) (NYSE:FAF) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 414,282 shares of the insurance provider’s stock after purchasing an additional 6,426 shares during the period. New York State Common Retirement Fund owned approximately 0.37% of First American Corporation (The) worth $18,514,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Creative Planning grew its position in First American Corporation (The) by 5.3% during the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 114 shares during the last quarter. First Bank & Trust grew its position in First American Corporation (The) by 46.6% during the 2nd quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 833 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of First American Corporation (The) by 352.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock worth $120,000 after acquiring an additional 2,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First American Corporation (The) by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock worth $170,000 after acquiring an additional 298 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of First American Corporation (The) in the 2nd quarter worth $201,000. 83.16% of the stock is currently owned by institutional investors.

Shares of First American Corporation (NYSE:FAF) opened at 49.97 on Friday. First American Corporation has a 1-year low of $35.28 and a 1-year high of $49.99. The firm has a market cap of $5.53 billion, a PE ratio of 15.15 and a beta of 0.72. The stock has a 50 day moving average of $48.48 and a 200 day moving average of $43.81.

First American Corporation (The) (NYSE:FAF) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.91 by $0.18. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.41 billion. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Equities research analysts anticipate that First American Corporation will post $3.40 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.04%. This is a positive change from First American Corporation (The)’s previous quarterly dividend of $0.34. First American Corporation (The)’s dividend payout ratio is currently 46.06%.

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In other news, CFO Mark Edward Seaton sold 7,000 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $48.33, for a total transaction of $338,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by corporate insiders.

FAF has been the subject of several recent analyst reports. BidaskClub upgraded shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research cut shares of First American Corporation (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th.

About First American Corporation (The)

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.

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

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