Allianz Asset Management GmbH Has $47.11 Million Holdings in First American Financial Corp (NYSE:FAF)

Allianz Asset Management GmbH cut its stake in First American Financial Corp (NYSE:FAF) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 942,849 shares of the insurance provider’s stock after selling 210,228 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.85% of First American Financial worth $47,114,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FAF. Creative Planning raised its stake in shares of First American Financial by 5.3% during the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after buying an additional 114 shares during the period. Russell Investments Group Ltd. raised its stake in shares of First American Financial by 4.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 43,010 shares of the insurance provider’s stock worth $1,922,000 after buying an additional 1,814 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of First American Financial by 0.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 65,313 shares of the insurance provider’s stock worth $2,917,000 after buying an additional 377 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of First American Financial by 16.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,026 shares of the insurance provider’s stock worth $225,000 after buying an additional 726 shares during the period. Finally, World Asset Management Inc raised its stake in shares of First American Financial by 0.8% during the 2nd quarter. World Asset Management Inc now owns 7,480 shares of the insurance provider’s stock worth $334,000 after buying an additional 61 shares during the period. 83.35% of the stock is owned by institutional investors.

In related news, CFO Mark Edward Seaton sold 9,981 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $54.87, for a total transaction of $547,657.47. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Christopher Michael Leavell sold 75,843 shares of First American Financial stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.25, for a total value of $4,190,325.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,161 shares of company stock worth $10,639,325. 3.10% of the stock is owned by corporate insiders.

Several analysts recently commented on the company. Zacks Investment Research upgraded First American Financial from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Thursday. Barclays boosted their price target on First American Financial from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th.

Shares of First American Financial Corp (NYSE FAF) traded down $0.26 during trading hours on Friday, reaching $56.04. The company’s stock had a trading volume of 349,307 shares, compared to its average volume of 492,167. First American Financial Corp has a 12 month low of $36.50 and a 12 month high of $57.50. The stock has a market cap of $6,210.00, a PE ratio of 22.15, a P/E/G ratio of 1.22 and a beta of 0.74.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.12. First American Financial had a return on equity of 14.30% and a net margin of 4.88%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company posted $0.96 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. equities analysts predict that First American Financial Corp will post 3.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 8th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Thursday, December 7th. First American Financial’s payout ratio is 60.08%.

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First American Financial 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 Financial (NYSE:FAF)

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