First American Corporation (The) (NYSE:FAF) is Vaughan Nelson Investment Management L.P.’s Largest Position

Vaughan Nelson Investment Management L.P. trimmed its stake in shares of First American Corporation (The) (NYSE:FAF) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,738,779 shares of the insurance provider’s stock after selling 261,650 shares during the period. First American Corporation (The) comprises about 1.6% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its biggest position. Vaughan Nelson Investment Management L.P. owned about 2.47% of First American Corporation (The) worth $136,856,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Planning boosted its position in First American Corporation (The) by 5.3% during the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 114 shares during the period. First Bank & Trust lifted its holdings in First American Corporation (The) by 46.6% in the 2nd quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock worth $117,000 after buying an additional 833 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings in First American Corporation (The) by 352.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock worth $120,000 after buying an additional 2,100 shares in the last quarter. Quantbot Technologies LP lifted its holdings in First American Corporation (The) by 78.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock worth $136,000 after buying an additional 1,342 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First American Corporation (The) by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock valued at $170,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 83.59% of the company’s stock.

Shares of First American Corporation (NYSE:FAF) opened at $54.25 on Friday. First American Corporation has a 12-month low of $35.28 and a 12-month high of $56.40. The stock has a market cap of $6,078.33, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.74.

First American Corporation (The) (NYSE:FAF) last posted its earnings results on Thursday, October 26th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. First American Corporation (The) had a net margin of 4.88% and a return on equity of 14.30%. First American Corporation (The)’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. sell-side analysts expect that First American Corporation will post 3.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, December 7th. First American Corporation (The)’s payout ratio is 60.08%.

In other news, insider Kenneth D. Degiorgio sold 7,337 shares of First American Corporation (The) stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $55.11, for a total transaction of $404,342.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Edward Seaton sold 9,981 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $54.87, for a total transaction of $547,657.47. The disclosure for this sale can be found here. Insiders have sold a total of 124,318 shares of company stock valued at $6,787,310 over the last ninety days. 3.10% of the stock is owned by insiders.

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A number of brokerages recently weighed in on FAF. Zacks Investment Research downgraded shares of First American Corporation (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Barclays PLC upped their target price on shares of First American Corporation (The) from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th.

About First American Corporation (The)

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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