Voya Investment Management LLC Sells 62,418 Shares of First American Financial Co. (NYSE:FAF)

Voya Investment Management LLC cut its stake in shares of First American Financial Co. (NYSE:FAF - Free Report) by 83.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,436 shares of the insurance provider's stock after selling 62,418 shares during the period. Voya Investment Management LLC's holdings in First American Financial were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in First American Financial during the fourth quarter worth $75,780,000. FMR LLC grew its holdings in First American Financial by 20.8% during the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock valued at $377,559,000 after purchasing an additional 1,042,145 shares during the last quarter. Corient Private Wealth LLC raised its position in First American Financial by 13,222.0% in the 4th quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock worth $53,029,000 after purchasing an additional 842,904 shares during the period. Prudential Financial Inc. lifted its stake in 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 worth $44,096,000 after purchasing an additional 695,060 shares during the last quarter. Finally, Capital International Investors purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $41,626,000. Institutional investors own 89.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FAF shares. Barclays raised their price target on First American Financial from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Stephens raised their price target on shares of First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. StockNews.com downgraded shares of First American Financial from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

First American Financial Stock Performance

Shares of FAF opened at $61.14 on Thursday. The stock has a market capitalization of $6.29 billion, a PE ratio of 48.91 and a beta of 1.29. The company has a 50 day moving average price of $62.38 and a 200-day moving average price of $63.47. First American Financial Co. has a fifty-two week low of $51.85 and a fifty-two week high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.19. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. The business's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. Equities research analysts forecast that First American Financial Co. will post 5.35 EPS for the current year.

Insider Activity

In other news, CFO Mark Edward Seaton sold 12,679 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $64.28, for a total transaction of $815,006.12. Following the completion of the sale, the chief financial officer now owns 195,812 shares in the company, valued at approximately $12,586,795.36. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dennis J. Gilmore sold 111,971 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $63.60, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,707 shares of company stock worth $8,136,565. Corporate insiders own 3.70% of the company's stock.

First American Financial Company 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.

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