Channing Capital Management LLC Sells 36,155 Shares of First American Financial Co. (NYSE:FAF)

Channing Capital Management LLC lowered its holdings in First American Financial Co. (NYSE:FAF) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,357 shares of the insurance provider’s stock after selling 36,155 shares during the period. Channing Capital Management LLC’s holdings in First American Financial were worth $8,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FAF. Wellington Management Group LLP acquired a new position in shares of First American Financial during the 3rd quarter worth about $95,638,000. ArrowMark Colorado Holdings LLC acquired a new stake in First American Financial during the third quarter worth approximately $43,431,000. Holocene Advisors LP acquired a new stake in shares of First American Financial during the 3rd quarter worth $36,803,000. Jacobs Levy Equity Management Inc. grew its stake in First American Financial by 83.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 893,216 shares of the insurance provider’s stock worth $58,961,000 after buying an additional 405,487 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of First American Financial by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,495,766 shares of the insurance provider’s stock worth $164,746,000 after acquiring an additional 405,146 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of First American Financial stock opened at $62.46 on Tuesday. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The stock’s 50-day moving average is $62.75 and its 200 day moving average is $64.34. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 49.97 and a beta of 1.34.

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

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, March 10th. First American Financial’s dividend payout ratio (DPR) is 172.80%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FAF. Keefe, Bruyette & Woods lifted their target price on First American Financial from $74.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. 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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price of $74.50.

Insider Activity at First American Financial

In other First American Financial news, CFO Mark Edward Seaton sold 12,679 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $64.28, for a total value of $815,006.12. Following the completion of the transaction, the chief financial officer now owns 195,812 shares in the company, valued at $12,586,795.36. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis J. Gilmore sold 111,971 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the transaction, the director now owns 494,574 shares of the company’s stock, valued at approximately $31,454,906.40. The trade was a 18.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,707 shares of company stock valued at $8,136,565. 3.70% of the stock is 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.