American International Group Inc. Sells 5,863 Shares of First American Financial Co. (NYSE:FAF) (2024)

American International Group Inc. trimmed its stake in shares of First American Financial Co. (NYSE:FAF – Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 139,349 shares of the insurance provider’s stock after selling 5,863 shares during the quarter. American International Group Inc. owned about 0.14% of First American Financial worth $8,980,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FAF. Norges Bank bought a new stake in shares of First American Financial during the 4th quarter valued at $76,210,000. Boston Partners lifted its position in shares of First American Financial by 13.4% during the 4th quarter. Boston Partners now owns 3,594,563 shares of the insurance provider’s stock valued at $231,608,000 after acquiring an additional 425,243 shares during the period. MKP Capital Management L.L.C. bought a new stake in shares of First American Financial during the 4th quarter valued at $25,776,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of First American Financial by 46.1% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,229,294 shares of the insurance provider’s stock valued at $79,216,000 after acquiring an additional 387,848 shares during the period. Finally, Basswood Capital Management L.L.C. lifted its position in shares of First American Financial by 91.5% during the 4th quarter. Basswood Capital Management L.L.C. now owns 455,127 shares of the insurance provider’s stock worth $29,328,000 after buying an additional 217,496 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FAF has been the subject of several recent analyst reports. Stephens restated an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a research report on Thursday, April 25th. Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $66.00 to $69.00 in a research report on Thursday, March 21st. Finally, TheStreet downgraded First American Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and a consensus target price of $67.75.

Check Out Our Latest Report on First American Financial

First American Financial Stock Down 0.9 %

Shares of FAF opened at $53.12 on Wednesday. First American Financial Co. has a 12-month low of $49.55 and a 12-month high of $65.54. The business has a 50-day simple moving average of $55.17 and a two-hundred day simple moving average of $58.43. The stock has a market cap of $5.51 billion, a PE ratio of 25.42 and a beta of 1.28.

First American Financial (NYSE:FAF – Get Free Report) last issued its earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $0.49 EPS. First American Financial’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts expect that First American Financial Co. will post 3.97 EPS for the current year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.53 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.12 dividend on an annualized basis and a yield of 3.99%. First American Financial’s payout ratio is presently 101.44%.

First American Financial Profile

(Free Report)

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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