Summit Investment Advisors Inc. Sells 478 Shares of First American Financial Co. (NYSE:FAF)

Summit Investment Advisors Inc. lowered its holdings in First American Financial Co. (NYSE:FAF) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 34,831 shares of the insurance provider’s stock after selling 478 shares during the period. Summit Investment Advisors Inc.’s holdings in First American Financial were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in shares of First American Financial by 14.8% during the 4th 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. CIBC Asset Management Inc raised its position in First American Financial by 5.8% in the fourth 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 during the period. UMB Bank n.a. boosted its stake in First American Financial by 66.9% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 210 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of First American Financial by 18.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider’s stock valued at $94,000 after acquiring an additional 230 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of 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 purchasing an additional 245 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on FAF. Stephens increased their price objective on First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised First American Financial from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Tuesday, April 8th.

First American Financial Trading Up 2.5 %

FAF opened at $60.96 on Tuesday. First American Financial Co. has a 12 month low of $51.60 and a 12 month high of $70.92. The company has a market cap of $6.28 billion, a PE ratio of 48.77 and a beta of 1.23. The company has a 50 day moving average of $63.61 and a 200 day moving average of $64.05.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, topping 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%. Research analysts forecast that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, March 10th. First American Financial’s payout ratio is presently 172.80%.

Insider Activity

In related news, Director Dennis J. Gilmore sold 111,971 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $63.60, for a total value of $7,121,355.60. Following 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Lisa W. Cornehl sold 3,057 shares of the business’s stock in a transaction dated 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 owns 23,825 shares of the company’s stock, valued at approximately $1,560,299.25. The trade was a 11.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,707 shares of company stock worth $8,136,565 over the last ninety days. Company insiders own 3.70% of the company’s stock.

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.