Axa trimmed its stake in First American Financial Corp (NYSE:FAF) by 88.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,200 shares of the insurance provider’s stock after selling 33,600 shares during the period. Axa’s holdings in First American Financial were worth $217,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sapphire Star Partners LP lifted its holdings in First American Financial by 5.8% during the 3rd quarter. Sapphire Star Partners LP now owns 30,141 shares of the insurance provider’s stock valued at $1,555,000 after purchasing an additional 1,661 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in First American Financial during the 3rd quarter valued at about $304,000. Yorktown Management & Research Co Inc lifted its holdings in First American Financial by 5.6% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 39,031 shares of the insurance provider’s stock valued at $2,014,000 after purchasing an additional 2,064 shares during the last quarter. Swiss National Bank lifted its holdings in First American Financial by 0.9% during the 3rd quarter. Swiss National Bank now owns 194,600 shares of the insurance provider’s stock valued at $10,039,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Commonwealth Bank of Australia bought a new position in First American Financial during the 3rd quarter valued at about $598,000. Institutional investors own 84.49% of the company’s stock.
Shares of FAF stock opened at $45.53 on Monday. The stock has a market cap of $5.09 billion, a P/E ratio of 16.56, a PEG ratio of 0.92 and a beta of 0.86. First American Financial Corp has a 12-month low of $41.96 and a 12-month high of $62.71.
First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. First American Financial had a net margin of 10.39% and a return on equity of 13.68%. On average, equities analysts predict that First American Financial Corp will post 4.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, December 7th. First American Financial’s payout ratio is presently 61.09%.
Several brokerages recently issued reports on FAF. Zacks Investment Research downgraded shares of First American Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 6th. ValuEngine downgraded shares of First American Financial from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $57.50.
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First American Financial 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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