66,886 Shares in First American Financial Corporation $FAF Bought by Advisors Capital Management LLC

Advisors Capital Management LLC acquired a new stake in First American Financial Corporation (NYSE:FAF - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 66,886 shares of the insurance provider's stock, valued at approximately $4,588,000. Advisors Capital Management LLC owned about 0.07% of First American Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in First American Financial during the 2nd quarter worth approximately $643,570,000. Boston Partners boosted its stake in shares of First American Financial by 8.9% during the 3rd quarter. Boston Partners now owns 6,133,594 shares of the insurance provider's stock valued at $393,690,000 after buying an additional 500,649 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of First American Financial by 4,485,375.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider's stock valued at $355,508,000 after buying an additional 5,786,134 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of First American Financial by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider's stock worth $279,529,000 after buying an additional 245,279 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of First American Financial by 3.3% during the fourth quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider's stock worth $209,868,000 after buying an additional 109,242 shares in the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Performance

First American Financial stock opened at $72.05 on Friday. The firm's 50-day moving average is $71.33 and its 200-day moving average is $67.64. First American Financial Corporation has a 1 year low of $56.20 and a 1 year high of $79.87. The company has a market cap of $7.36 billion, a P/E ratio of 9.98, a PEG ratio of 0.67 and a beta of 1.22.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. First American Financial's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 earnings per share. As a group, sell-side analysts predict that First American Financial Corporation will post 7.11 earnings per share for the current year.

Insider Transactions at First American Financial

In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of the firm's stock in a transaction 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 sale, the chief accounting officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

FAF has been the topic of several recent analyst reports. Truist Financial upped their price target on shares of First American Financial from $82.00 to $85.00 and gave the company a "buy" rating in a report on Friday, April 24th. Barclays raised their price objective on shares of First American Financial from $80.00 to $83.00 and gave the stock 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 research report on Monday, July 20th. Stephens restated an "overweight" rating and issued a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods increased their price target on shares of First American Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, First American Financial currently has a consensus rating of "Moderate Buy" and an average target price of $84.60.

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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