First American Financial Co. (NYSE:FAF) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in shares of First American Financial Co. (NYSE:FAF) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,513 shares of the insurance provider’s stock after selling 229 shares during the period. PNC Financial Services Group Inc.’s holdings in First American Financial were worth $226,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina increased its stake in First American Financial by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 44,007 shares of the insurance provider’s stock worth $2,486,000 after buying an additional 220 shares during the period. Advisors Capital Management LLC increased its stake in First American Financial by 0.6% during the 3rd quarter. Advisors Capital Management LLC now owns 55,462 shares of the insurance provider’s stock worth $3,133,000 after buying an additional 311 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in First American Financial during the 4th quarter worth approximately $26,000. Retirement Systems of Alabama increased its stake in First American Financial by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 129,229 shares of the insurance provider’s stock worth $8,328,000 after buying an additional 515 shares during the period. Finally, Mayflower Financial Advisors LLC increased its stake in First American Financial by 5.9% during the 4th quarter. Mayflower Financial Advisors LLC now owns 9,459 shares of the insurance provider’s stock worth $610,000 after buying an additional 527 shares during the period. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FAF. Stephens reissued an “overweight” rating and issued a $72.00 price objective on shares of First American Financial in a research report on Thursday, April 25th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $66.00 to $69.00 in a research report on Thursday, March 21st. Finally, TheStreet downgraded shares of First American Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and a consensus target price of $67.75.

First American Financial Trading Down 1.1 %

Shares of First American Financial stock opened at $53.38 on Tuesday. The company has a fifty day simple moving average of $54.74 and a 200-day simple moving average of $57.89. First American Financial Co. has a 12-month low of $49.55 and a 12-month high of $65.54. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 25.54 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued its earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.22). First American Financial had a net margin of 3.64% and a return on equity of 8.17%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts forecast that First American Financial Co. will post 3.82 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s dividend payout ratio is currently 101.44%.

About First American Financial

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.