First American Financial Corp (FAF) Stake Raised by Comerica Securities Inc.

Comerica Securities Inc. lifted its stake in shares of First American Financial Corp (NYSE:FAF) by 4.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,426 shares of the insurance provider’s stock after purchasing an additional 2,181 shares during the period. Comerica Securities Inc.’s holdings in First American Financial were worth $2,859,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. First Midwest Bank Trust Division raised its position in shares of First American Financial by 13.2% during the second quarter. First Midwest Bank Trust Division now owns 7,925 shares of the insurance provider’s stock worth $410,000 after purchasing an additional 922 shares during the period. Louisiana State Employees Retirement System raised its position in shares of First American Financial by 3.4% during the second quarter. Louisiana State Employees Retirement System now owns 30,100 shares of the insurance provider’s stock worth $1,557,000 after purchasing an additional 1,000 shares during the period. MetLife Investment Advisors LLC raised its position in shares of First American Financial by 1.5% during the second quarter. MetLife Investment Advisors LLC now owns 70,106 shares of the insurance provider’s stock worth $3,626,000 after purchasing an additional 1,010 shares during the period. Oakbrook Investments LLC raised its position in shares of First American Financial by 11.4% during the second quarter. Oakbrook Investments LLC now owns 10,250 shares of the insurance provider’s stock worth $530,000 after purchasing an additional 1,050 shares during the period. Finally, Chicago Equity Partners LLC raised its position in shares of First American Financial by 1.2% during the third quarter. Chicago Equity Partners LLC now owns 89,860 shares of the insurance provider’s stock worth $4,636,000 after purchasing an additional 1,105 shares during the period. 83.38% of the stock is currently owned by institutional investors.

Shares of FAF stock opened at $46.58 on Thursday. First American Financial Corp has a 1-year low of $41.96 and a 1-year high of $62.71. The firm has a market cap of $5.08 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 0.78 and a beta of 0.84.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). First American Financial had a net margin of 10.39% and a return on equity of 13.68%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.55 billion. As a group, analysts expect that First American Financial Corp will post 4.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.61%. First American Financial’s dividend payout ratio is 61.09%.

In other news, EVP Kenneth D. Degiorgio sold 13,871 shares of First American Financial stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $57.25, for a total transaction of $794,114.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Matthew F. Wajner sold 4,982 shares of First American Financial stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $57.29, for a total value of $285,418.78. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

A number of brokerages have recently issued reports on FAF. Piper Jaffray Companies boosted their target price on First American Financial from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. ValuEngine lowered First American Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Keefe, Bruyette & Woods raised First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research report on Monday, July 16th. Finally, Zacks Investment Research downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. First American Financial has a consensus rating of “Hold” and an average target price of $57.50.

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First American Financial Company Profile

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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

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