Public Employees Retirement System of Ohio Invests $2.07 Million in First American Financial Corporation $FAF

Public Employees Retirement System of Ohio purchased a new stake in shares of First American Financial Corporation (NYSE:FAFFree Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,180 shares of the insurance provider’s stock, valued at approximately $2,070,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in First American Financial by 9.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,696 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 148 shares during the last quarter. Equitable Trust Co. boosted its position in First American Financial by 2.3% in the 1st quarter. Equitable Trust Co. now owns 6,980 shares of the insurance provider’s stock valued at $421,000 after buying an additional 160 shares during the last quarter. Naples Global Advisors LLC increased its stake in shares of First American Financial by 2.4% in the 4th quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock valued at $461,000 after buying an additional 175 shares during the period. Quarry LP increased its stake in shares of First American Financial by 14.0% in the 4th quarter. Quarry LP now owns 1,658 shares of the insurance provider’s stock valued at $102,000 after buying an additional 203 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of First American Financial by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 45,932 shares of the insurance provider’s stock worth $2,820,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Stock Down 0.0%

Shares of NYSE FAF opened at $72.74 on Monday. First American Financial Corporation has a twelve month low of $56.20 and a twelve month high of $79.87. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.67 and a beta of 1.21. The company’s fifty day moving average is $72.71 and its 200-day moving average is $68.24.

First American Financial (NYSE:FAFGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.28. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 EPS. On average, research analysts anticipate that First American Financial Corporation will post 7.11 EPS for the current fiscal year.

Insider Transactions at First American Financial

In other First American Financial news, CAO Steven Adams sold 3,253 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total value 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. The trade was a 24.12% decrease in their ownership of the stock. 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 topic of several recent research reports. Benchmark initiated coverage on shares of First American Financial in a research note on Tuesday, July 21st. They issued a “buy” rating and a $85.00 target price on the stock. Zacks Research downgraded shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings restated a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Barclays lifted their target price on shares of First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.60.

Check Out Our Latest Research Report on FAF

About First American Financial

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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