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

Summit Investment Advisors Inc. cut its stake in First American Financial Co. (NYSE:FAF) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in shares of First American Financial by 66.9% in 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 last quarter. Jones Financial Companies Lllp lifted its stake 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 valued at $42,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC boosted its position in shares of First American Financial by 34.9% during the 4th quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 277 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in First American Financial during the third quarter worth approximately $75,000. Finally, Parkside Financial Bank & Trust grew its stake in 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 worth $84,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Performance

Shares of First American Financial stock opened at $60.96 on Tuesday. First American Financial Co. has a 52 week low of $51.60 and a 52 week high of $70.92. The stock has a 50 day moving average price of $63.61 and a two-hundred day moving average price of $64.05. The stock has a market capitalization of $6.28 billion, a PE ratio of 48.77 and a beta of 1.23.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. Research analysts forecast that First American Financial Co. will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.54 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.54%. First American Financial’s dividend payout ratio is presently 172.80%.

Insider Activity at First American Financial

In other news, Director Dennis J. Gilmore sold 111,971 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 494,574 shares in the company, valued at $31,454,906.40. This trade represents a 18.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief financial officer now owns 195,812 shares of the company’s stock, valued at $12,586,795.36. This trade represents a 6.08 % 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.

Analyst Ratings Changes

FAF has been the topic of a number of research analyst reports. Stephens increased their price target on First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Tuesday, April 8th.

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.