Price T Rowe Associates Inc. MD Sells 6,691 Shares of First American Financial Co. (NYSE:FAF)

Price T Rowe Associates Inc. MD trimmed its stake in First American Financial Co. (NYSE:FAF - Free Report) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,036 shares of the insurance provider's stock after selling 6,691 shares during the period. Price T Rowe Associates Inc. MD owned about 0.07% of First American Financial worth $4,436,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FAF. Norges Bank bought a new stake in First American Financial during the 4th quarter worth approximately $75,780,000. FMR LLC grew its holdings in shares of First American Financial by 20.8% during the fourth quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock worth $377,559,000 after purchasing an additional 1,042,145 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of First American Financial by 13,222.0% in the fourth quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock valued at $53,029,000 after buying an additional 842,904 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of First American Financial by 6,233.2% in the fourth quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock valued at $44,096,000 after buying an additional 695,060 shares during the last quarter. Finally, Capital International Investors acquired a new position in First American Financial during the 4th quarter worth about $41,626,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Dennis J. Gilmore sold 111,971 shares of First American Financial stock in a transaction on Friday, February 14th. The shares were sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the transaction, the director now directly owns 494,574 shares of the company's stock, valued at $31,454,906.40. This trade represents a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Lisa W. Cornehl sold 3,057 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total transaction of $200,202.93. Following the completion of the sale, the senior vice president now owns 23,825 shares of the company's stock, valued at approximately $1,560,299.25. This represents a 11.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,707 shares of company stock worth $8,136,565. Insiders own 3.70% of the company's stock.

First American Financial Stock Down 1.3 %

NYSE FAF traded down $0.78 during trading hours on Friday, hitting $59.74. The company's stock had a trading volume of 631,558 shares, compared to its average volume of 658,647. First American Financial Co. has a twelve month low of $51.85 and a twelve month high of $70.92. The firm has a market capitalization of $6.15 billion, a P/E ratio of 47.79 and a beta of 1.29. The stock has a fifty day moving average of $62.21 and a 200 day moving average of $63.41.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that First American Financial Co. will post 5.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FAF. StockNews.com downgraded shares of First American Financial from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Barclays boosted their price objective on shares of 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. Keefe, Bruyette & Woods increased their price objective 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 lifted their target price on First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. 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.