Texas Permanent School Fund Has $3.63 Million Position in First American Financial Corp (FAF)

Texas Permanent School Fund cut its stake in shares of First American Financial Corp (NYSE:FAF) by 2.4% in the third quarter, HoldingsChannel.com reports. The firm owned 70,256 shares of the insurance provider’s stock after selling 1,737 shares during the quarter. Texas Permanent School Fund’s holdings in First American Financial were worth $3,625,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in First American Financial during the second quarter worth about $265,000. HPM Partners LLC bought a new position in First American Financial during the second quarter worth about $319,000. Private Advisor Group LLC bought a new position in First American Financial during the second quarter worth about $333,000. Seven Eight Capital LP bought a new position in First American Financial during the third quarter worth about $340,000. Finally, First Citizens Bank & Trust Co. bought a new position in First American Financial during the third quarter worth about $364,000. 83.52% of the stock is owned by institutional investors and hedge funds.

In related news, insider Matthew F. Wajner sold 4,982 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $57.29, for a total transaction of $285,418.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kenneth D. Degiorgio sold 13,871 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $57.25, for a total value of $794,114.75. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.



A number of analysts have recently commented on the company. Piper Jaffray Companies boosted their price target on First American Financial from $63.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, July 27th. ValuEngine lowered First American Financial from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a report on Monday, July 16th. Finally, Zacks Investment Research lowered First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. First American Financial currently has an average rating of “Hold” and an average target price of $57.50.

Shares of First American Financial stock opened at $44.76 on Wednesday. The stock has a market capitalization of $4.89 billion, a PE ratio of 16.28, a PEG ratio of 0.76 and a beta of 0.70. First American Financial Corp has a one year low of $41.96 and a one year high of $62.71.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. First American Financial had a net margin of 10.39% and a return on equity of 13.68%. On average, sell-side analysts anticipate that First American Financial Corp will post 4.47 EPS for the current year.

First American Financial Company Profile

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

Read More: How are Outstanding Shares Different from Authorized Shares?

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

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