Mutual Advisors LLC Boosts Stock Position in First American Financial Corp (NYSE:FAF)

Mutual Advisors LLC grew its stake in shares of First American Financial Corp (NYSE:FAF) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,443 shares of the insurance provider’s stock after acquiring an additional 3,208 shares during the period. Mutual Advisors LLC’s holdings in First American Financial were worth $2,601,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of First American Financial by 8.3% in the second quarter. BlackRock Inc. now owns 11,753,555 shares of the insurance provider’s stock worth $631,166,000 after purchasing an additional 904,259 shares during the period. Nuveen Asset Management LLC bought a new position in shares of First American Financial in the second quarter worth $41,858,000. Parnassus Investments CA increased its holdings in shares of First American Financial by 138.7% in the second quarter. Parnassus Investments CA now owns 751,369 shares of the insurance provider’s stock worth $40,349,000 after purchasing an additional 436,550 shares during the period. Point72 Asset Management L.P. bought a new position in shares of First American Financial in the second quarter worth $20,393,000. Finally, Balyasny Asset Management LLC increased its holdings in shares of First American Financial by 1,664.8% in the second quarter. Balyasny Asset Management LLC now owns 347,515 shares of the insurance provider’s stock worth $18,662,000 after purchasing an additional 327,824 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

In other news, COO Christopher Michael Leavell sold 10,006 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $57.99, for a total transaction of $580,247.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.



FAF has been the topic of several research analyst reports. Barclays set a $68.00 price target on shares of First American Financial and gave the stock a “buy” rating in a report on Friday, July 26th. Compass Point set a $60.00 price target on shares of First American Financial and gave the stock a “hold” rating in a report on Friday, July 26th. Zacks Investment Research cut shares of First American Financial from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a report on Tuesday. ValuEngine cut shares of First American Financial from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Finally, Susquehanna Bancshares initiated coverage on shares of First American Financial in a report on Wednesday, June 19th. They issued a “positive” rating and a $73.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. First American Financial has an average rating of “Hold” and a consensus target price of $67.40.

FAF traded up $0.35 during trading on Wednesday, reaching $59.46. The stock had a trading volume of 4,265 shares, compared to its average volume of 645,041. The stock has a market cap of $6.59 billion, a PE ratio of 12.98 and a beta of 0.90. First American Financial Corp has a one year low of $41.96 and a one year high of $60.48. The business has a 50-day moving average of $58.07 and a 200-day moving average of $55.09.

First American Financial (NYSE:FAF) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.23. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. First American Financial had a return on equity of 14.77% and a net margin of 9.36%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share. On average, analysts forecast that First American Financial Corp will post 4.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.42 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.68 dividend on an annualized basis and a yield of 2.83%. First American Financial’s dividend payout ratio is presently 36.68%.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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

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