Corebridge Financial Inc. Trims Stake in First American Financial Co. (NYSE:FAF)

Corebridge Financial Inc. cut its stake in shares of First American Financial Co. (NYSE:FAF) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,530 shares of the insurance provider’s stock after selling 5,117 shares during the period. Corebridge Financial Inc. owned about 0.11% of First American Financial worth $7,276,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FAF. UMB Bank n.a. raised its stake in shares of First American Financial by 66.9% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock worth $33,000 after buying an additional 210 shares during the period. Jones Financial Companies Lllp raised its stake in First American Financial by 57.6% during the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 245 shares during the period. GAMMA Investing LLC lifted its holdings in First American Financial by 34.9% during the fourth quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 277 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of First American Financial in the third quarter worth approximately $75,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of First American Financial by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock worth $84,000 after purchasing an additional 173 shares during the period. Institutional investors own 89.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAF. Stephens lifted 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 note on Friday, February 14th. Keefe, Bruyette & Woods upped their price objective 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.

First American Financial Stock Performance

FAF opened at $65.68 on Friday. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 52.54 and a beta of 1.34. The company has a fifty day moving average of $63.88 and a 200 day moving average of $64.40. First American Financial Co. has a fifty-two week low of $51.60 and a fifty-two week high of $70.92.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share 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, equities research analysts forecast that First American Financial Co. will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.29%. First American Financial’s dividend payout ratio is currently 172.80%.

Insider Activity at First American Financial

In other First American Financial news, SVP Lisa W. Cornehl sold 3,057 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total transaction of $200,202.93. Following the completion of the transaction, the senior vice president now owns 23,825 shares in the company, valued at $1,560,299.25. This trade represents a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis J. Gilmore sold 111,971 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was 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 owns 494,574 shares in the company, valued at approximately $31,454,906.40. This trade represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,707 shares of company stock valued at $8,136,565. 3.70% of the stock is owned by corporate insiders.

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.