Summit Securities Group LLC purchased a new position in First American Corporation (The) (NYSE:FAF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,500 shares of the insurance provider’s stock, valued at approximately $201,000.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in First American Corporation (The) by 3,956.3% in the first quarter. BlackRock Inc. now owns 9,926,367 shares of the insurance provider’s stock worth $389,909,000 after buying an additional 9,681,653 shares during the period. State Street Corp increased its stake in First American Corporation (The) by 3.7% in the first quarter. State Street Corp now owns 3,541,023 shares of the insurance provider’s stock worth $139,091,000 after buying an additional 126,125 shares during the period. Fisher Asset Management LLC increased its stake in First American Corporation (The) by 5.1% in the second quarter. Fisher Asset Management LLC now owns 1,479,732 shares of the insurance provider’s stock worth $66,129,000 after buying an additional 71,581 shares during the period. Hamlin Capital Management LLC increased its stake in First American Corporation (The) by 37.1% in the second quarter. Hamlin Capital Management LLC now owns 1,411,501 shares of the insurance provider’s stock worth $63,080,000 after buying an additional 382,145 shares during the period. Finally, Anchor Capital Advisors LLC increased its stake in First American Corporation (The) by 0.4% in the first quarter. Anchor Capital Advisors LLC now owns 919,026 shares of the insurance provider’s stock worth $36,099,000 after buying an additional 3,676 shares during the period. 84.23% of the stock is owned by institutional investors.

Shares of First American Corporation (NYSE FAF) opened at 47.73 on Friday. First American Corporation has a 1-year low of $35.28 and a 1-year high of $49.48. The stock’s 50 day moving average price is $46.33 and its 200-day moving average price is $41.88. The stock has a market capitalization of $5.28 billion, a P/E ratio of 14.47 and a beta of 0.73.

First American Corporation (The) (NYSE:FAF) last posted its quarterly earnings data on Thursday, July 27th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. First American Corporation (The) had a return on equity of 12.22% and a net margin of 6.38%. First American Corporation (The)’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Equities research analysts anticipate that First American Corporation will post $3.46 EPS for the current fiscal year.

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A number of equities research analysts have recently weighed in on FAF shares. BidaskClub raised First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research note on Monday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $39.00 price target on shares of First American Corporation (The) in a research note on Wednesday, April 19th.

About First American Corporation (The)

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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

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