Ellington Management Group LLC cut its holdings in First American Co. (NYSE:FAF) by 61.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,200 shares of the insurance provider’s stock after selling 11,700 shares during the period. Ellington Management Group LLC’s holdings in First American were worth $403,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of FAF. Prudential Financial Inc. increased its holdings in shares of First American by 162.5% in the 3rd quarter. Prudential Financial Inc. now owns 1,069,020 shares of the insurance provider’s stock worth $53,419,000 after buying an additional 661,701 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of First American by 287.8% in the 4th quarter. APG Asset Management N.V. now owns 748,900 shares of the insurance provider’s stock worth $34,950,000 after buying an additional 555,800 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of First American by 306.9% in the 4th quarter. Citadel Advisors LLC now owns 665,344 shares of the insurance provider’s stock worth $37,286,000 after buying an additional 501,818 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of First American by 37.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,466,329 shares of the insurance provider’s stock worth $82,173,000 after buying an additional 398,665 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of First American by 27.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,447,433 shares of the insurance provider’s stock worth $81,114,000 after buying an additional 311,055 shares during the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Several brokerages recently commented on FAF. Zacks Investment Research downgraded shares of First American from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays cut their price target on shares of First American from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. ValuEngine upgraded shares of First American from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Stephens upgraded shares of First American from an “equal” rating to a “weight” rating in a report on Monday, January 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $58.33.
NYSE:FAF traded down $1.31 during mid-day trading on Friday, hitting $56.44. 1,114,957 shares of the stock traded hands, compared to its average volume of 595,491. The company has a market capitalization of $6,407.95, a price-to-earnings ratio of 20.52, a PEG ratio of 1.00 and a beta of 0.76. First American Co. has a 52 week low of $37.80 and a 52 week high of $62.71.
First American (NYSE:FAF) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. First American had a net margin of 7.33% and a return on equity of 13.92%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. analysts predict that First American Co. will post 4.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 8th were given a $0.38 dividend. The ex-dividend date was Wednesday, March 7th. This represents a $1.52 annualized dividend and a yield of 2.69%. First American’s dividend payout ratio (DPR) is 55.27%.
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First American Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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