Man Group plc Sells 39,051 Shares of First American Financial Co. (NYSE:FAF)

Man Group plc cut its stake in First American Financial Co. (NYSE:FAF - Free Report) by 47.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,602 shares of the insurance provider's stock after selling 39,051 shares during the quarter. Man Group plc's holdings in First American Financial were worth $2,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. grew its stake in First American Financial by 66.9% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 210 shares during the period. Jones Financial Companies Lllp lifted 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 valued at $42,000 after purchasing an additional 245 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of First American Financial by 14.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider's stock valued at $84,000 after purchasing an additional 173 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in First American Financial by 18.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider's stock worth $94,000 after purchasing an additional 230 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in First American Financial by 314.7% during the 4th quarter. Venturi Wealth Management LLC now owns 2,592 shares of the insurance provider's stock worth $162,000 after buying an additional 1,967 shares during the period. Institutional investors own 89.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays lifted their target price on First American Financial from $69.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Stephens upped their price target on First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

First American Financial Stock Down 1.0%

Shares of FAF stock traded down $0.56 on Wednesday, reaching $54.70. The stock had a trading volume of 286,143 shares, compared to its average volume of 680,301. The firm's 50-day moving average is $60.84 and its two-hundred day moving average is $62.98. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 43.76 and a beta of 1.29. First American Financial Co. has a 12 month low of $51.85 and a 12 month high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.19. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. The company 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 company's revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.54 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.95%. First American Financial's payout ratio is presently 143.05%.

First American Financial Company 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.