New York State Teachers Retirement System Sells 6,777 Shares of First American Financial Corporation (NYSE:FAF)

New York State Teachers Retirement System reduced its position in First American Financial Corporation (NYSE:FAF - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent disclosure 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 quarter. New York State Teachers Retirement System owned approximately 0.11% of First American Financial worth $7,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Alpine Bank Wealth Management bought a new position in shares of First American Financial in the first quarter valued at about $28,000. Jones Financial Companies Lllp boosted its position in 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 acquiring an additional 245 shares during the last quarter. Versant Capital Management Inc boosted 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 acquiring an additional 833 shares during the last quarter. UMB Bank n.a. increased its position in shares of First American Financial by 132.1% in the first quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock valued at $80,000 after acquiring an additional 692 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of First American Financial by 23.9% in the 1st 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 last quarter. Institutional investors own 89.05% of the company's stock.

First American Financial Stock Down 1.2%

Shares of NYSE FAF traded down $0.74 during mid-day trading on Monday, reaching $62.51. 1,216,677 shares of the company were exchanged, compared to its average volume of 746,315. First American Financial Corporation has a 52 week low of $52.39 and a 52 week high of $70.92. The stock has a market capitalization of $6.43 billion, a PE ratio of 41.40 and a beta of 1.24. The company's 50 day moving average price is $59.03 and its 200 day moving average price is $61.36.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.19. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. First American Financial had a net margin of 2.52% and a return on equity of 10.05%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. On average, sell-side analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Monday, June 9th. First American Financial's payout ratio is 143.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods raised their price target on shares of First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Barclays lifted their price objective on 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, First American Financial currently has an average rating of "Moderate Buy" and a consensus 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.