UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in First American Financial Corporation (NYSE:FAF – Free Report) by 9.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 298,644 shares of the insurance provider’s stock after selling 29,713 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First American Financial were worth $20,484,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC bought a new stake in shares of First American Financial in the 4th quarter valued at about $1,608,000. Jefferies Financial Group Inc. bought a new position in First American Financial during the 4th quarter worth approximately $6,713,000. Manning & Napier Advisors LLC acquired a new position in First American Financial during the fourth quarter valued at approximately $63,693,000. Mendon Capital Advisors Corp acquired a new position in First American Financial during the first quarter valued at approximately $71,680,000. Finally, Gabelli Funds LLC increased its stake in First American Financial by 81.6% in the fourth quarter. Gabelli Funds LLC now owns 79,362 shares of the insurance provider’s stock valued at $4,876,000 after purchasing an additional 35,650 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.
First American Financial Trading Down 4.9%
Shares of NYSE FAF opened at $72.74 on Friday. The firm has a market cap of $7.43 billion, a PE ratio of 10.07, a PEG ratio of 0.71 and a beta of 1.21. First American Financial Corporation has a 1-year low of $56.20 and a 1-year high of $79.87. The company has a fifty day moving average price of $72.71 and a 200 day moving average price of $68.24.
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 that occurred on Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the sale, the chief accounting officer owned 10,234 shares in the company, valued at approximately $767,447.66. The trade was a 24.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on FAF shares. Stephens reissued an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Zacks Research lowered First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Benchmark started coverage on First American Financial in a research note on Tuesday, July 21st. They issued a “buy” rating and a $85.00 target price for the company. Barclays raised their price target 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Seven investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.60.
Check Out Our Latest 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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