Pinebridge Investments L.P. reduced its holdings in shares of First American Financial Co. (NYSE:FAF – Get Rating) by 93.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 900 shares of the insurance provider’s stock after selling 13,655 shares during the quarter. Pinebridge Investments L.P.’s holdings in First American Financial were worth $70,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of FAF. JJJ Advisors Inc. boosted its stake in shares of First American Financial by 100.0% during the 4th quarter. JJJ Advisors Inc. now owns 400 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 200 shares during the period. Lazard Asset Management LLC boosted its stake in First American Financial by 33.2% in the 4th quarter. Lazard Asset Management LLC now owns 530 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 132 shares during the period. CI Investments Inc. boosted its stake in First American Financial by 7.5% in the 3rd quarter. CI Investments Inc. now owns 2,510 shares of the insurance provider’s stock valued at $168,000 after purchasing an additional 175 shares during the period. Convergence Investment Partners LLC bought a new stake in First American Financial in the 4th quarter valued at $192,000. Finally, Van ECK Associates Corp boosted its stake in First American Financial by 11.2% in the 4th quarter. Van ECK Associates Corp now owns 2,455 shares of the insurance provider’s stock valued at $192,000 after purchasing an additional 248 shares during the period. Institutional investors own 84.95% of the company’s stock.
FAF has been the subject of several recent research reports. BTIG Research reduced their price target on First American Financial from $93.00 to $86.00 in a research note on Tuesday, April 12th. Zacks Investment Research cut First American Financial from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a report on Wednesday. Credit Suisse Group cut First American Financial from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $97.00 to $74.00 in a report on Friday, April 1st. Barclays boosted their price target on First American Financial from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 11th. Finally, StockNews.com initiated coverage on First American Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $69.73.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 8th will be issued a $0.51 dividend. The ex-dividend date is Tuesday, June 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.44%. First American Financial’s payout ratio is presently 20.54%.
About First American Financial (Get Rating)
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
- Get a free copy of the StockNews.com research report on First American Financial (FAF)
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