First American Corporation (The) (NYSE:FAF) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in First American Corporation (The) (NYSE:FAF) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,966 shares of the insurance provider’s stock after buying an additional 3,198 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.15% of First American Corporation (The) worth $7,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FAF. Creative Planning boosted its holdings in shares of First American Corporation (The) by 5.3% in the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 114 shares in the last quarter. First Bank & Trust lifted its stake in shares of First American Corporation (The) by 46.6% in the 2nd quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock valued at $117,000 after acquiring an additional 833 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of First American Corporation (The) by 352.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock valued at $120,000 after acquiring an additional 2,100 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of First American Corporation (The) by 78.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock valued at $136,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First American Corporation (The) by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock valued at $170,000 after acquiring an additional 298 shares during the last quarter. Institutional investors own 83.59% of the company’s stock.

In related news, CFO Mark Edward Seaton sold 7,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $48.33, for a total value of $338,310.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dennis J. Gilmore sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $54.97, for a total value of $5,497,000.00. Following the sale, the chief executive officer now directly owns 611,141 shares in the company, valued at $33,594,420.77. The disclosure for this sale can be found here. Insiders have sold a total of 124,318 shares of company stock worth $6,787,310 over the last three months. Insiders own 3.10% of the company’s stock.

First American Corporation (NYSE:FAF) traded down $0.60 during trading on Friday, hitting $54.25. The company had a trading volume of 604,100 shares, compared to its average volume of 590,059. First American Corporation has a 52 week low of $35.28 and a 52 week high of $56.40. The stock has a market cap of $6,078.33, a P/E ratio of 15.58, a P/E/G ratio of 1.20 and a beta of 0.74.

First American Corporation (The) (NYSE:FAF) last issued its earnings results on Thursday, October 26th. The insurance provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.00 by $0.12. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. First American Corporation (The) had a return on equity of 14.30% and a net margin of 4.88%. The company’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. research analysts forecast that First American Corporation will post 3.52 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.80%. First American Corporation (The)’s payout ratio is 60.08%.

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A number of research analysts have commented on FAF shares. Zacks Investment Research raised First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research report on Monday, July 31st. Barclays PLC upped their target price on First American Corporation (The) from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 27th.

First American Corporation (The) Company Profile

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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

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