First American Financial Corporation (NYSE:FAF) Stock Holdings Cut by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 40.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 13,465 shares of the insurance provider's stock after selling 9,081 shares during the period. Janney Montgomery Scott LLC's holdings in First American Financial were worth $884,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of First American Financial during the fourth quarter worth about $75,780,000. FMR LLC raised its holdings in First American Financial by 20.8% in the fourth quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock valued at $377,559,000 after acquiring an additional 1,042,145 shares in the last quarter. Corient Private Wealth LLC grew its holdings in First American Financial by 13,222.0% during the 4th quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock worth $53,029,000 after acquiring an additional 842,904 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of First American Financial by 500.7% in the 4th quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider's stock worth $62,646,000 after purchasing an additional 836,314 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of First American Financial by 6,233.2% in the 4th quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock worth $44,096,000 after purchasing an additional 695,060 shares during the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays lifted their price target on First American Financial from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods lifted their target price on First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a research 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

First American Financial Price Performance

NYSE:FAF traded up $0.53 during midday trading on Friday, reaching $63.25. 736,295 shares of the company traded hands, compared to its average volume of 746,130. First American Financial Corporation has a twelve month low of $52.39 and a twelve month high of $70.92. The company has a fifty day moving average price of $58.96 and a 200 day moving average price of $61.38. The firm has a market capitalization 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 announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.54 per share. The ex-dividend date was Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.42%. First American Financial's dividend payout ratio (DPR) is presently 143.05%.

About First American Financial

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.