Ceredex Value Advisors LLC Boosts Holdings in First American Financial Corporation $FAF

Key Points

• Ceredex Value Advisors LLC increased its stake in First American Financial Corporation by 11.3%, acquiring 21,550 additional shares, bringing its total holdings to 212,243 shares valued at approximately $13.93 million.
• First American Financial has received a consensus rating of "Moderate Buy" from analysts, with a price target increase from $77.00 to $79.00, while Barclays set a lower price target of $70.00.
• The company's recent quarterly earnings surpassed expectations, reporting $1.53 earnings per share, compared to the anticipated $1.40, along with a revenue increase of 14.2% year-over-year.

Ceredex Value Advisors LLC boosted its position in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,243 shares of the insurance provider's stock after acquiring an additional 21,550 shares during the period. Ceredex Value Advisors LLC owned 0.21% of First American Financial worth $13,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FAF. Mariner LLC lifted its position in First American Financial by 34.5% during the fourth quarter. Mariner LLC now owns 6,964 shares of the insurance provider's stock valued at $435,000 after acquiring an additional 1,788 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of First American Financial by 163.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,576 shares of the insurance provider's stock worth $473,000 after buying an additional 4,695 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of First American Financial by 243.8% in the fourth quarter. Hsbc Holdings PLC now owns 17,416 shares of the insurance provider's stock worth $1,085,000 after buying an additional 12,350 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of First American Financial in the fourth quarter worth $468,000. Finally, Quarry LP purchased a new position in shares of First American Financial in the fourth quarter worth $179,000. Hedge funds and other institutional investors own 89.05% of the company's stock.

Analysts Set New Price Targets

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

First American Financial Price Performance

NYSE:FAF opened at $66.4130 on Tuesday. The firm has a market capitalization of $6.76 billion, a P/E ratio of 36.69 and a beta of 1.24. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92. The company's fifty day moving average price is $60.94 and its 200-day moving average price is $61.10.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 2.90% and a return on equity of 10.41%. The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 earnings per share. Equities analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, Director Margaret M. Mccarthy sold 3,500 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total transaction of $229,705.00. Following the sale, the director owned 28,095 shares in the company, valued at approximately $1,843,874.85. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company's stock.

About First American Financial

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.

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