First American Financial Corporation (NYSE:FAF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in First American Financial Corporation (NYSE:FAF - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 957,268 shares of the insurance provider's stock after selling 59,223 shares during the period. Bank of New York Mellon Corp owned about 0.93% of First American Financial worth $62,825,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FAF. Jones Financial Companies Lllp raised its position in shares of First American Financial by 57.6% in the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 245 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of First American Financial in the 4th quarter valued at approximately $7,932,000. Amundi purchased a new position in shares of First American Financial in the 4th quarter valued at approximately $1,864,000. AlphaQuest LLC raised its position in shares of First American Financial by 49,371.4% in the 4th quarter. AlphaQuest LLC now owns 3,463 shares of the insurance provider's stock valued at $216,000 after purchasing an additional 3,456 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of First American Financial by 3.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,454 shares of the insurance provider's stock valued at $1,215,000 after purchasing an additional 711 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen lowered shares of First American Financial from a "buy" rating to a "hold" rating in a research report on Saturday. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Barclays dropped their price target on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.50.

First American Financial Stock Down 2.8%

NYSE:FAF traded down $1.60 on Tuesday, reaching $54.74. 957,907 shares of the company's stock were exchanged, compared to its average volume of 802,722. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 36.25 and a beta of 1.24. The business has a fifty day moving average of $58.83 and a 200-day moving average of $61.23. First American Financial Corporation has a 52-week low of $53.09 and a 52-week high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.54 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.16 annualized dividend and a yield of 3.95%. First American Financial's dividend payout ratio is currently 143.05%.

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.