Wellington Management Group LLP decreased its stake in shares of First American Financial Corporation (NYSE:FAF – Free Report) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,524,879 shares of the insurance provider’s stock after selling 435,594 shares during the period. Wellington Management Group LLP owned about 1.49% of First American Financial worth $104,591,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in First American Financial in the 2nd quarter worth approximately $643,570,000. Boston Partners lifted its holdings in shares of First American Financial by 8.9% during the 3rd quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after buying an additional 500,649 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First American Financial by 4,485,375.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after buying an additional 5,786,134 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First American Financial by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider’s stock worth $279,529,000 after buying an additional 245,279 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of First American Financial by 3.3% in the fourth quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock worth $209,868,000 after acquiring an additional 109,242 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.
First American Financial Stock Down 0.7%
Shares of FAF opened at $73.42 on Wednesday. The business has a 50-day simple moving average of $72.23 and a two-hundred day simple moving average of $68.08. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.68 and a beta of 1.21. First American Financial Corporation has a 52 week low of $56.20 and a 52 week high of $79.87.
Insider Buying and Selling
In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the sale, the chief accounting officer owned 10,234 shares in the company, valued at approximately $767,447.66. This trade represents a 24.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.
Wall Street Analysts Forecast Growth
FAF has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and set a $84.00 price objective on shares of First American Financial in a research report on Friday, June 12th. Barclays raised their target price on First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Zacks Research cut shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.60.
Read Our Latest Research Report on First American Financial
First American Financial 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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