380,607 Shares in First American Financial Corporation $FAF Purchased by Barrow Hanley Mewhinney & Strauss LLC

Key Points

• Barrow Hanley Mewhinney & Strauss LLC purchased 380,607 shares of First American Financial, valued at approximately $26.1 million, representing about 0.37% of the company. Institutional investors collectively own 89.05% of FAF.
• First American Financial exceeded quarterly expectations, reporting $2.08 in EPS versus the $1.80 consensus estimate and $2.11 billion in revenue, up 15% year over year.
• FAF shares recently traded near $71.78, while analysts maintained a generally bullish outlook: seven rate the stock Buy and one Hold, with a consensus price target of $84.60.

Barrow Hanley Mewhinney & Strauss LLC bought a new position in First American Financial Corporation (NYSE:FAF - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 380,607 shares of the insurance provider's stock, valued at approximately $26,106,000. Barrow Hanley Mewhinney & Strauss LLC owned about 0.37% of First American Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FAF. Jones Financial Companies Lllp lifted its position in First American Financial by 121.3% during the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider's stock valued at $97,000 after purchasing an additional 813 shares during the period. Goldman Sachs Group Inc. raised its holdings in First American Financial by 10.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider's stock worth $19,233,000 after purchasing an additional 28,666 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of First American Financial by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider's stock worth $27,180,000 after buying an additional 27,600 shares during the period. Jane Street Group LLC raised its stake in First American Financial by 182.5% during the 1st quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider's stock worth $4,435,000 after acquiring an additional 43,651 shares during the period. Finally, Focus Partners Wealth lifted its stake in shares of First American Financial by 11.3% during the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider's stock valued at $281,000 after buying an additional 435 shares in the last quarter. Institutional investors own 89.05% of the company's stock.

First American Financial Stock Performance

Shares of FAF opened at $71.78 on Monday. The stock has a 50-day moving average of $71.45 and a two-hundred day moving average of $67.70. The stock has a market cap of $7.33 billion, a P/E ratio of 9.94, a P/E/G ratio of 0.66 and a beta of 1.22. First American Financial Corporation has a one year low of $56.20 and a one year high of $79.87.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share 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 the consensus estimate of $2.03 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.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 firm earned $1.53 EPS. Analysts predict that First American Financial Corporation will post 7.11 EPS for the current fiscal year.

Insider Transactions at First American Financial

In other news, CAO Steven A. Adams sold 3,253 shares of the company'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 sale, the chief accounting officer directly owned 10,234 shares in the company, valued at $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on FAF. Stephens reaffirmed an "overweight" rating and set a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Weiss Ratings reissued a "buy (b)" rating on shares of First American Financial in a research report on Monday, July 20th. Benchmark began coverage on shares of First American Financial in a research note on Tuesday, July 21st. They issued a "buy" rating and a $85.00 price objective for the company. Barclays lifted 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. Finally, Keefe, Bruyette & Woods boosted their price target on First American Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.60.

About First American Financial

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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