First American Financial Corporation (NYSE:FAF) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 29.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,509 shares of the insurance provider's stock after selling 71,127 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.17% of First American Financial worth $11,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Alpine Bank Wealth Management acquired a new stake in First American Financial during the first quarter worth about $28,000. Jones Financial Companies Lllp grew its holdings in shares of First American Financial by 57.6% during the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock worth $42,000 after purchasing an additional 245 shares during the period. Versant Capital Management Inc increased its position in First American Financial by 645.7% during the 1st quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock worth $63,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. increased its position in First American Financial by 132.1% during the 1st quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock worth $80,000 after purchasing an additional 692 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in First American Financial by 23.9% in the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock valued at $87,000 after buying an additional 256 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Stock Up 0.8%

Shares of FAF traded up $0.53 during mid-day trading on Friday, reaching $63.25. 736,295 shares of the stock traded hands, compared to its average volume of 746,130. The stock has a fifty day simple moving average of $58.96 and a 200 day simple moving average of $61.38. First American Financial Corporation has a 12-month low of $52.39 and a 12-month high of $70.92. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 41.89 and a beta of 1.24.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.19. First American Financial had a net margin of 2.52% and a return on equity of 10.05%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Monday, June 9th. First American Financial's dividend payout ratio is currently 143.05%.

Analyst Ratings Changes

FAF has been the subject of several recent research reports. Barclays increased their price objective on shares of First American Financial from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Keefe, Bruyette & Woods increased their price target on First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen raised First American Financial from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, First American Financial presently has an average rating of "Moderate Buy" and an average price target of $75.00.

First American Financial Profile

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