CANADA LIFE ASSURANCE Co Decreases Stake in First American Financial Co. (NYSE:FAF)

CANADA LIFE ASSURANCE Co cut its holdings in shares of First American Financial Co. (NYSE:FAF - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,041 shares of the insurance provider's stock after selling 19,327 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of First American Financial worth $5,686,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of First American Financial during the fourth quarter worth $75,780,000. FMR LLC increased its position in shares of First American Financial by 20.8% during the fourth quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock worth $377,559,000 after acquiring an additional 1,042,145 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of First American Financial by 13,222.0% in the fourth quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock worth $53,029,000 after purchasing an additional 842,904 shares during the last quarter. Prudential Financial Inc. boosted its holdings in First American Financial by 6,233.2% during the 4th quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock worth $44,096,000 after acquiring an additional 695,060 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in First American Financial by 19.8% in the 4th quarter. Wellington Management Group LLP now owns 1,735,557 shares of the insurance provider's stock worth $108,368,000 after purchasing an additional 286,711 shares in the last quarter. Institutional investors own 89.05% of the company's stock.

Insider Transactions at First American Financial

In other news, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total transaction of $200,202.93. Following the transaction, the senior vice president now directly owns 23,825 shares of the company's stock, valued at $1,560,299.25. The trade was a 11.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis J. Gilmore sold 111,971 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the transaction, the director now directly owns 494,574 shares of the company's stock, valued at $31,454,906.40. This trade represents a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,707 shares of company stock valued at $8,136,565 in the last three months. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FAF shares. StockNews.com upgraded shares of First American Financial from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Stephens lifted their price objective on shares of First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods raised their price target on First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Barclays boosted their price objective on First American Financial from $69.00 to $72.00 and gave the company an "equal weight" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

First American Financial Stock Performance

FAF traded up $0.02 on Tuesday, reaching $61.19. The company had a trading volume of 76,929 shares, compared to its average volume of 657,555. The business has a 50 day simple moving average of $62.82 and a 200 day simple moving average of $63.70. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 49.02 and a beta of 1.23. First American Financial Co. has a 52-week low of $51.85 and a 52-week high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.65 by $0.19. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. First American Financial's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. As a group, equities research analysts predict that First American Financial Co. will post 5.35 EPS for the current fiscal year.

First American Financial Profile

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.