GSA Capital Partners LLP bought a new position in shares of First American Financial Corporation (NYSE:FAF – Free Report) in the second quarter, Holdings Channel.com reports. The firm bought 9,733 shares of the insurance provider’s stock, valued at approximately $668,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. increased its stake in First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 376 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 443 shares during the last quarter. Danske Bank A S bought a new stake in First American Financial in the third quarter worth $45,000. IFP Advisors Inc boosted its holdings in First American Financial by 568.8% during the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 637 shares during the period. Finally, SHP Wealth Management purchased a new stake in shares of First American Financial during the fourth quarter valued at approximately $51,000. 89.05% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
FAF has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $84.00 price target on shares of First American Financial in a research report on Friday, June 12th. Truist Financial upped their price objective on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research downgraded First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.60.
Insider Activity at First American Financial
In related news, CAO Steven A. Adams sold 3,253 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the transaction, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at approximately $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
First American Financial Stock Performance
Shares of FAF stock opened at $72.84 on Thursday. The stock has a fifty day simple moving average of $71.19 and a two-hundred day simple moving average of $67.58. The firm has a market capitalization of $7.44 billion, a PE ratio of 10.09, a PEG ratio of 0.67 and a beta of 1.22. First American Financial Corporation has a 52-week low of $56.20 and a 52-week high of $79.87.
First American Financial (NYSE:FAF – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.28. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm earned $1.53 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts forecast that First American Financial Corporation will post 7.11 EPS for the current fiscal year.
First American Financial Company Profile
First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.
The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.
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