Renaissance Technologies LLC Decreases Stock Position in First American Financial Co. (NYSE:FAF)

Renaissance Technologies LLC cut its stake in shares of First American Financial Co. (NYSE:FAF - Free Report) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 198,000 shares of the insurance provider's stock after selling 28,300 shares during the period. Renaissance Technologies LLC owned 0.19% of First American Financial worth $12,363,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. UMB Bank n.a. increased its holdings in First American Financial by 66.9% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider's stock worth $33,000 after buying an additional 210 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in 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 during the last quarter. GAMMA Investing LLC increased its position in First American Financial by 34.9% during the fourth quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider's stock worth $67,000 after buying an additional 277 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in 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 worth $84,000 after purchasing an additional 173 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of 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. Institutional investors and hedge funds own 89.05% of the company's stock.

Insider Buying and Selling at First American Financial

In other news, CFO Mark Edward Seaton sold 12,679 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $64.28, for a total value of $815,006.12. Following the transaction, the chief financial officer now owns 195,812 shares in the company, valued at $12,586,795.36. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis J. Gilmore sold 111,971 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $63.60, for a total value of $7,121,355.60. Following the completion of the transaction, the director now directly owns 494,574 shares of the company's stock, valued at approximately $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,707 shares of company stock valued at $8,136,565. 3.70% of the stock is currently owned by company insiders.

First American Financial Stock Down 1.8 %

Shares of FAF stock traded down $1.08 during trading hours on Monday, hitting $58.11. 24,215 shares of the company's stock traded hands, compared to its average volume of 652,742. The stock has a market cap of $5.99 billion, a PE ratio of 46.52 and a beta of 1.23. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The stock's 50 day simple moving average is $63.27 and its 200 day simple moving average is $63.87.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. As a group, equities research analysts expect that First American Financial Co. will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.54 per share. The ex-dividend date was Monday, March 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.72%. First American Financial's payout ratio is 172.80%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded First American Financial from a "market perform" rating to an "outperform" rating and set a $75.00 target price for the company in a research report on Tuesday, April 8th. Stephens upped their target price on First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, February 14th.

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.