State Board of Administration of Florida Retirement System Has $7.26 Million Holdings in First American Corporation (The) (FAF)

State Board of Administration of Florida Retirement System boosted its stake in First American Corporation (The) (NYSE:FAF) by 11.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,208 shares of the insurance provider’s stock after purchasing an additional 14,923 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of First American Corporation (The) worth $7,256,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Capstone Asset Management Co. increased its stake in shares of First American Corporation (The) by 6.7% during the second quarter. Capstone Asset Management Co. now owns 14,618 shares of the insurance provider’s stock valued at $653,000 after buying an additional 920 shares during the period. Bank of Montreal Can increased its stake in shares of First American Corporation (The) by 602.4% during the second quarter. Bank of Montreal Can now owns 120,870 shares of the insurance provider’s stock valued at $5,402,000 after buying an additional 103,662 shares during the period. Creative Planning increased its stake in shares of First American Corporation (The) by 5.3% during the second quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock valued at $102,000 after buying an additional 114 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of First American Corporation (The) during the second quarter valued at approximately $618,000. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of First American Corporation (The) by 4.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 40,117 shares of the insurance provider’s stock valued at $1,793,000 after buying an additional 1,749 shares during the period. 83.84% of the stock is currently owned by institutional investors and hedge funds.

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First American Corporation (FAF) opened at $53.96 on Tuesday. First American Corporation has a 12 month low of $35.28 and a 12 month high of $56.40. The stock has a market capitalization of $6,011.84, a P/E ratio of 15.41, a PEG ratio of 1.18 and a beta of 0.74.

First American Corporation (The) (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.12. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. First American Corporation (The) had a return on equity of 14.30% and a net margin of 4.88%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. analysts anticipate that First American Corporation will post 3.52 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a yield of 2.82%. First American Corporation (The)’s payout ratio is 60.08%.

FAF has been the topic of several research analyst reports. Zacks Investment Research raised First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research note on Monday, July 31st. Barclays PLC boosted their target price on First American Corporation (The) from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 27th.

In related news, CFO Mark Edward Seaton sold 9,981 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $54.87, for a total value of $547,657.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dennis J. Gilmore sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $54.97, for a total value of $5,497,000.00. Following the completion of the sale, the chief executive officer now directly owns 611,141 shares in the company, valued at $33,594,420.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,318 shares of company stock worth $6,787,310. 3.10% of the stock is owned by insiders.

First American Corporation (The) 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 Corporation (The) (NYSE:FAF)

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