Cambiar Investors LLC Sells 6,331 Shares of First American Financial Corporation $FAF

Key Points

• Cambiar Investors LLC reduced its holdings in First American Financial by 16.5%, owning 32,119 shares worth approximately $2.11 million after selling 6,331 shares.
• Barclays cut its price target on First American Financial from $72.00 to $70.00, while Keefe, Bruyette & Woods raised it from $77.00 to $79.00, highlighting mixed analyst sentiments on the stock.
• First American Financial reported $1.53 EPS for the last quarter, exceeding estimates, and announced a $300 million stock repurchase program to buy back up to 5.1% of shares, signifying potential undervaluation of the stock.

Cambiar Investors LLC reduced its position in First American Financial Corporation (NYSE:FAF - Free Report) by 16.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,119 shares of the insurance provider's stock after selling 6,331 shares during the period. Cambiar Investors LLC's holdings in First American Financial were worth $2,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of First American Financial during the first quarter worth $28,000. Richardson Capital Management LLC acquired a new stake in shares of First American Financial during the first quarter worth $39,000. Versant Capital Management Inc grew its stake in shares of First American Financial by 645.7% during the first quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock worth $63,000 after purchasing an additional 833 shares during the period. UMB Bank n.a. grew its stake in shares of First American Financial by 132.1% during the first quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock worth $80,000 after purchasing an additional 692 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock worth $87,000 after purchasing an additional 256 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FAF shares. Wall Street Zen raised First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods lifted their price objective on First American Financial from $77.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Barclays decreased their price objective on First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

Insider Activity at First American Financial

In other news, Director Margaret M. Mccarthy sold 3,500 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director directly owned 28,095 shares in the company, valued at $1,843,874.85. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is currently owned by company insiders.

First American Financial Stock Performance

FAF stock traded down $0.17 during midday trading on Wednesday, hitting $64.71. 381,431 shares of the company's stock were exchanged, compared to its average volume of 900,055. The stock's fifty day moving average price is $60.41 and its 200-day moving average price is $61.06. The company has a market cap of $6.59 billion, a PE ratio of 35.75 and a beta of 1.24. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.13. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. On average, analysts expect that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 23rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

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.