SG Americas Securities LLC Sells 60,581 Shares of First American Co. (FAF)

SG Americas Securities LLC decreased its position in First American Co. (NYSE:FAF) by 68.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,415 shares of the insurance provider’s stock after selling 60,581 shares during the quarter. SG Americas Securities LLC’s holdings in First American were worth $1,667,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in shares of First American in the fourth quarter valued at about $129,000. Advisors Preferred LLC purchased a new position in shares of First American in the first quarter valued at about $140,000. CIBC Asset Management Inc purchased a new position in shares of First American in the first quarter valued at about $208,000. Jane Street Group LLC purchased a new position in shares of First American in the fourth quarter valued at about $202,000. Finally, Round Table Services LLC purchased a new position in shares of First American in the fourth quarter valued at about $210,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Get First American alerts:

In related news, COO Christopher Michael Leavell sold 27,714 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $51.35, for a total transaction of $1,423,113.90. Following the transaction, the chief operating officer now owns 168,919 shares in the company, valued at $8,673,990.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by insiders.

First American opened at $53.93 on Friday, Marketbeat Ratings reports. First American Co. has a 12-month low of $42.33 and a 12-month high of $62.71. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.93 and a beta of 0.77.

First American (NYSE:FAF) last announced its quarterly earnings results on Thursday, April 26th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03. First American had a net margin of 7.67% and a return on equity of 14.28%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. First American’s quarterly revenue was down 1.5% on a year-over-year basis. equities research analysts expect that First American Co. will post 4.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, June 7th. First American’s dividend payout ratio is currently 55.27%.

A number of equities analysts have issued reports on the stock. ValuEngine upgraded shares of First American from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of First American from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Finally, Barclays decreased their price objective on shares of First American from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $68.00.

First American Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Co. (NYSE:FAF).