Fisher Asset Management LLC Has $36.12 Million Holdings in First American Financial Co. (NYSE:FAF)

Fisher Asset Management LLC trimmed its stake in shares of First American Financial Co. (NYSE:FAF) by 20.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 560,512 shares of the insurance provider’s stock after selling 146,677 shares during the period. Fisher Asset Management LLC’s holdings in First American Financial were worth $36,119,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC bought a new position in First American Financial in the 4th quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of First American Financial in the 4th quarter valued at $44,000. Chilton Capital Management LLC bought a new stake in shares of First American Financial during the fourth quarter worth $64,000. International Assets Investment Management LLC acquired a new position in shares of First American Financial during the fourth quarter valued at $87,000. Finally, Oppenheimer Asset Management Inc. bought a new position in First American Financial in the third quarter valued at about $216,000. 89.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FAF shares. Keefe, Bruyette & Woods upgraded shares of First American Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $66.00 to $69.00 in a research report on Thursday, March 21st. TheStreet cut shares of First American Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First American Financial in a report on Wednesday, January 10th. They set a “buy” rating for the company. Finally, Stephens reissued an “overweight” rating and issued a $72.00 price target on shares of First American Financial in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.75.

First American Financial Stock Performance

Shares of NYSE FAF opened at $54.38 on Friday. The firm has a 50 day moving average price of $57.10 and a 200 day moving average price of $58.32. The stock has a market cap of $5.64 billion, a P/E ratio of 26.02 and a beta of 1.28. First American Financial Co. has a 52-week low of $49.55 and a 52-week high of $65.54.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. First American Financial had a net margin of 3.64% and a return on equity of 8.17%. First American Financial’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. Analysts predict that First American Financial Co. will post 4.28 earnings per share for the current fiscal year.

About First American Financial

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