First American Financial Co. (NYSE:FAF) Short Interest Update

First American Financial Co. (NYSE:FAF) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,710,000 shares, an increase of 61.3% from the February 28th total of 1,060,000 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 592,700 shares, the days-to-cover ratio is currently 2.9 days.

Insider Activity at First American Financial

In other news, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total value of $200,202.93. Following the completion of the transaction, the senior vice president now owns 23,825 shares in the company, valued at approximately $1,560,299.25. This trade represents a 11.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $815,006.12. Following the sale, the chief financial officer now directly owns 195,812 shares in the company, valued at approximately $12,586,795.36. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,707 shares of company stock valued at $8,136,565 over the last three months. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FAF. Wealth Enhancement Advisory Services LLC grew its position in First American Financial by 38.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,325 shares of the insurance provider’s stock valued at $1,332,000 after buying an additional 5,889 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of First American Financial in the fourth quarter valued at approximately $385,000. Forum Financial Management LP acquired a new position in shares of First American Financial during the fourth quarter valued at approximately $235,000. Public Employees Retirement System of Ohio increased its stake in shares of First American Financial by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 36,697 shares of the insurance provider’s stock valued at $2,291,000 after acquiring an additional 389 shares during the period. Finally, Burgundy Asset Management Ltd. raised its holdings in First American Financial by 2.4% during the fourth quarter. Burgundy Asset Management Ltd. now owns 161,257 shares of the insurance provider’s stock worth $10,069,000 after purchasing an additional 3,850 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of First American Financial stock traded down $0.80 during trading on Friday, hitting $65.68. 513,600 shares of the stock were exchanged, compared to its average volume of 632,929. The stock has a market cap of $6.77 billion, a PE ratio of 52.54 and a beta of 1.34. The stock’s fifty day moving average is $63.88 and its 200 day moving average is $64.40. First American Financial has a 12 month low of $51.60 and a 12 month high of $70.92.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 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%. Sell-side analysts anticipate that First American Financial 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 given a dividend of $0.54 per share. The ex-dividend date was Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.29%. First American Financial’s dividend payout ratio (DPR) is presently 172.80%.

Analysts Set New Price Targets

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

About First American Financial

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.