First American Financial Corporation (NYSE:FAF) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,938 shares of the insurance provider's stock after selling 6,777 shares during the period. New York State Teachers Retirement System owned about 0.11% of First American Financial worth $7,346,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in First American Financial in the first quarter worth $28,000. Jones Financial Companies Lllp lifted its stake 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 in the last quarter. Versant Capital Management Inc raised its holdings in shares of First American Financial by 645.7% during the 1st quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock valued at $63,000 after buying an additional 833 shares during the period. UMB Bank n.a. raised its holdings in shares of 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 valued at $80,000 after buying an additional 692 shares during the period. Finally, GAMMA Investing LLC increased its holdings in First American Financial by 23.9% during the 1st quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock worth $87,000 after purchasing an additional 256 shares during the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Stock Performance

Shares of FAF stock traded down $0.88 during mid-day trading on Monday, hitting $62.38. The company's stock had a trading volume of 499,096 shares, compared to its average volume of 807,262. The company has a market cap of $6.42 billion, a PE ratio of 41.31 and a beta of 1.24. First American Financial Corporation has a 52 week low of $52.39 and a 52 week high of $70.92. The company's fifty day simple moving average is $59.00 and its 200-day simple moving average is $61.36.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.65 by $0.19. First American Financial had a return on equity of 10.05% and a net margin of 2.52%. 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 business earned $0.45 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 dividend yield of 3.46%. First American Financial's dividend payout ratio (DPR) is 143.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FAF. Keefe, Bruyette & Woods upped their price objective on First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Barclays increased their price objective on First American Financial from $69.00 to $72.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Finally, Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.