Corient Private Wealth LP Makes New Investment in First American Financial Corporation $FAF

Corient Private Wealth LP bought a new stake in First American Financial Corporation (NYSE:FAF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 667,883 shares of the insurance provider’s stock, valued at approximately $45,810,000.

Other institutional investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. increased its holdings in shares of First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 376 shares in the last quarter. Global Retirement Partners LLC grew its position in First American Financial by 1,107.5% during the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after buying an additional 443 shares during the period. Danske Bank A S purchased a new position in First American Financial in the third quarter valued at about $45,000. IFP Advisors Inc lifted its position in shares of First American Financial by 568.8% during the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 637 shares during the period. Finally, SHP Wealth Management acquired a new stake in shares of First American Financial during the 4th quarter valued at approximately $51,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Steven A. Adams sold 3,253 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the sale, the chief accounting officer owned 10,234 shares in the company, valued at approximately $767,447.66. This trade represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of research reports. Zacks Research cut First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Barclays boosted their target price on First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Stephens reissued an “overweight” rating and issued a $84.00 target price on shares of First American Financial in a report on Friday, June 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Finally, Wall Street Zen lowered shares of First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.60.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $74.62 on Friday. First American Financial Corporation has a one year low of $56.20 and a one year high of $79.87. The stock has a market cap of $7.62 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.68 and a beta of 1.22. The business’s fifty day moving average price is $71.92 and its two-hundred day moving average price is $67.90.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.28. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $1.53 EPS. As a group, equities research analysts predict that First American Financial Corporation will post 7.11 earnings per share for the current fiscal year.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.