First American Financial Co. (NYSE:FAF) Sees Large Increase in Short Interest

First American Financial Co. (NYSE:FAF) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,710,000 shares, a growth of 61.3% from the February 28th total of 1,060,000 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average trading volume of 592,700 shares, the short-interest ratio is presently 2.9 days.

First American Financial Stock Down 0.4 %

FAF stock traded down $0.27 during mid-day trading on Monday, reaching $65.43. 127,215 shares of the company traded hands, compared to its average volume of 630,958. The firm’s 50 day moving average price is $63.88 and its 200 day moving average price is $64.40. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 52.27 and a beta of 1.34. First American Financial has a fifty-two week low of $51.60 and a fifty-two week high of $70.92.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. On average, analysts anticipate that First American Financial will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, March 10th. First American Financial’s dividend payout ratio (DPR) is 172.80%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FAF shares. Stephens boosted their target price on shares of First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods upped their price target on First American Financial from $74.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th.

Insider Activity

In related news, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total value of $200,202.93. Following the transaction, the senior vice president now directly owns 23,825 shares of the company’s stock, valued at $1,560,299.25. The trade was a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis J. Gilmore sold 111,971 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the completion of the sale, the director now directly owns 494,574 shares in the company, valued at approximately $31,454,906.40. This represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,707 shares of company stock worth $8,136,565. Insiders own 3.70% of the company’s stock.

Institutional Trading of First American Financial

Several hedge funds and other institutional investors have recently modified their holdings of FAF. Wellington Management Group LLP purchased a new stake in First American Financial in the 3rd quarter worth approximately $95,638,000. Norges Bank purchased a new position in shares of First American Financial in the fourth quarter worth about $75,780,000. FMR LLC increased its holdings in First American Financial by 20.8% during the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider’s stock valued at $377,559,000 after purchasing an additional 1,042,145 shares during the period. Corient Private Wealth LLC increased its stake in shares of First American Financial by 13,222.0% during the fourth quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider’s stock valued at $53,029,000 after buying an additional 842,904 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in First American Financial by 500.7% in the 4th quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider’s stock worth $62,646,000 after purchasing an additional 836,314 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Company Profile

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.