145,445 Shares in First American Financial Corporation $FAF Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 145,445 shares of First American Financial in the second quarter, valued at approximately $9.98 million and representing about 0.14% of the company. Institutional investors and hedge funds collectively own 89.05% of FAF.
• First American Financial reported quarterly EPS of $2.08, exceeding the $1.80 consensus estimate, while revenue rose 15% year over year to $2.11 billion. Analysts project full-year EPS of $7.11.
• Analyst sentiment remains favorable, with seven Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $84.60, compared with the stock’s reported price of $74.02.

Legal & General Group Plc acquired a new stake in First American Financial Corporation (NYSE:FAF - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 145,445 shares of the insurance provider's stock, valued at approximately $9,976,000. Legal & General Group Plc owned about 0.14% of First American Financial at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. lifted its stake 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 worth $26,000 after acquiring an additional 376 shares during the period. Global Retirement Partners LLC increased its stake in shares of 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 acquiring an additional 443 shares during the period. Danske Bank A S acquired a new position in shares of First American Financial during the third quarter worth about $45,000. IFP Advisors Inc raised its holdings in First American Financial by 568.8% during the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider's stock worth $46,000 after purchasing an additional 637 shares in the last quarter. Finally, SHP Wealth Management purchased a new position in First American Financial during the fourth quarter worth about $51,000. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Trading Down 0.6%

Shares of FAF opened at $74.02 on Tuesday. The firm's 50-day moving average is $72.15 and its two-hundred day moving average is $68.02. First American Financial Corporation has a twelve month low of $56.20 and a twelve month high of $79.87. The firm has a market capitalization of $7.56 billion, a P/E ratio of 10.25, a PEG ratio of 0.69 and a beta of 1.22.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $0.28. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. Analysts predict that First American Financial Corporation will post 7.11 EPS for the current year.

Analyst Upgrades and Downgrades

FAF has been the topic of a number of analyst reports. Barclays lifted their price objective on First American Financial from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Weiss Ratings reissued a "buy (b)" rating on shares of First American Financial in a report on Monday, July 20th. Keefe, Bruyette & Woods lifted their price target on First American Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Zacks Research lowered First American Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Finally, Stephens reiterated an "overweight" rating and issued a $84.00 price objective on shares of First American Financial in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $84.60.

Insiders Place Their Bets

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 stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the transaction, the chief accounting officer directly owned 10,234 shares of the company's stock, valued at $767,447.66. This trade represents a 24.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by insiders.

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.

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