Raymond James & Associates Has $1.45 Million Holdings in First American Co. (FAF)
Raymond James & Associates raised its stake in shares of First American Co. (NYSE:FAF) by 4.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,869 shares of the insurance provider’s stock after buying an additional 1,111 shares during the period. Raymond James & Associates’ holdings in First American were worth $1,450,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Swiss National Bank grew its holdings in First American by 2.0% during the 4th quarter. Swiss National Bank now owns 188,600 shares of the insurance provider’s stock valued at $10,569,000 after buying an additional 3,700 shares during the last quarter. Royce & Associates LP grew its holdings in First American by 1.6% during the 4th quarter. Royce & Associates LP now owns 79,706 shares of the insurance provider’s stock valued at $4,467,000 after buying an additional 1,219 shares during the last quarter. Profund Advisors LLC grew its holdings in First American by 9.5% during the 4th quarter. Profund Advisors LLC now owns 13,149 shares of the insurance provider’s stock valued at $737,000 after buying an additional 1,141 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in First American by 35.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 125,023 shares of the insurance provider’s stock valued at $6,247,000 after buying an additional 32,616 shares during the last quarter. Finally, ARP Americas LP acquired a new stake in First American during the 4th quarter valued at $333,000. Hedge funds and other institutional investors own 84.90% of the company’s stock.
A number of equities research analysts have commented on FAF shares. Zacks Investment Research upgraded First American from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Thursday, December 28th. Stephens raised First American from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. ValuEngine raised First American from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Barclays reduced their price target on First American from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $58.33.
First American (NYSE:FAF) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. First American had a return on equity of 13.92% and a net margin of 7.33%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. sell-side analysts expect that First American Co. will post 4.44 earnings per share for the current year.
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About First American
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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