Nuveen Asset Management LLC Reduces Holdings in First American Financial Co. (NYSE:FAF)

Nuveen Asset Management LLC lessened its stake in First American Financial Co. (NYSE:FAF - Free Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,448 shares of the insurance provider's stock after selling 40,726 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.28% of First American Financial worth $18,260,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Occudo Quantitative Strategies LP bought a new position in shares of First American Financial in the fourth quarter valued at approximately $242,000. Lazard Asset Management LLC lifted its holdings in shares of First American Financial by 500.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider's stock valued at $62,646,000 after purchasing an additional 836,314 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of First American Financial by 33.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,189,162 shares of the insurance provider's stock valued at $74,251,000 after purchasing an additional 295,946 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of First American Financial in the fourth quarter valued at approximately $385,000. Finally, Focus Partners Wealth bought a new position in shares of First American Financial in the fourth quarter valued at approximately $240,000. Institutional investors own 89.05% of the company's stock.

First American Financial Stock Performance

NYSE:FAF traded up $0.31 during trading hours on Thursday, reaching $54.42. The stock had a trading volume of 251,723 shares, compared to its average volume of 727,020. The stock has a market cap of $5.60 billion, a P/E ratio of 43.53 and a beta of 1.29. The stock has a 50 day simple moving average of $60.63 and a 200 day simple moving average of $62.92. 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 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. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts expect that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.54 per share. The ex-dividend date is Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.97%. First American Financial's dividend payout ratio is presently 143.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on FAF. Wall Street Zen raised First American Financial from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays increased their price target 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. Keefe, Bruyette & Woods increased their price target on First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Stephens increased their price target on First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company 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.