Pictet Asset Management Holding SA Sells 17,191 Shares of First American Financial Co. (NYSE:FAF)

Pictet Asset Management Holding SA lessened its holdings in shares of First American Financial Co. (NYSE:FAF) by 3.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 505,481 shares of the insurance provider’s stock after selling 17,191 shares during the quarter. Pictet Asset Management Holding SA’s holdings in First American Financial were worth $31,562,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its stake in shares of First American Financial by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock valued at $84,000 after buying an additional 173 shares during the period. CIBC Asset Management Inc grew its holdings in First American Financial by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 3,247 shares of the insurance provider’s stock worth $203,000 after acquiring an additional 179 shares in the last quarter. UMB Bank n.a. increased its position in First American Financial by 66.9% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 210 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of First American Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 230 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of First American Financial by 57.6% in the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 245 shares during the period. Institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

FAF has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price objective on shares of First American Financial from $74.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Stephens lifted their price target on First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, February 14th.

First American Financial Stock Down 1.2 %

Shares of First American Financial stock opened at $65.68 on Monday. The company has a market cap of $6.77 billion, a P/E ratio of 52.54 and a beta of 1.34. The firm’s 50 day moving average price is $63.88 and its 200-day moving average price is $64.40. First American Financial Co. has a 52-week low of $51.60 and a 52-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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. As a group, equities research analysts forecast that First American Financial Co. will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Monday, March 10th. First American Financial’s dividend payout ratio (DPR) is presently 172.80%.

Insiders Place Their Bets

In other First American Financial news, CFO Mark Edward Seaton sold 12,679 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $64.28, for a total transaction of $815,006.12. Following the transaction, the chief financial officer now owns 195,812 shares in the company, valued at approximately $12,586,795.36. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dennis J. Gilmore sold 111,971 shares of First American Financial stock in a transaction on 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 sale, the director now owns 494,574 shares of the company’s stock, valued at $31,454,906.40. The trade was a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,707 shares of company stock valued at $8,136,565. 3.70% of the stock is currently owned by corporate insiders.

First American Financial 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.