First American Financial Corporation (NYSE:FAF) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in First American Financial Corporation (NYSE:FAF - Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,115,801 shares of the insurance provider's stock after selling 9,052 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.08% of First American Financial worth $73,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Alpine Bank Wealth Management purchased a new stake in First American Financial during the 1st quarter worth about $28,000. Richardson Capital Management LLC purchased a new stake in First American Financial during the 1st quarter worth about $39,000. Versant Capital Management Inc lifted its holdings in First American Financial by 645.7% during the 1st quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock worth $63,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of First American Financial by 132.1% in the 1st quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock valued at $80,000 after acquiring an additional 692 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of First American Financial by 23.9% during the 1st quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock valued at $87,000 after buying an additional 256 shares in the last quarter. Institutional investors own 89.05% of the company's stock.

First American Financial Price Performance

Shares of NYSE:FAF traded down $1.42 during trading on Friday, hitting $64.43. The company had a trading volume of 829,462 shares, compared to its average volume of 864,702. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 35.60 and a beta of 1.24. The company has a fifty day simple moving average of $60.10 and a two-hundred day simple moving average of $61.05.

First American Financial (NYSE:FAF - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.13. The business had revenue of $1.84 billion during 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%. First American Financial's revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 EPS. On average, equities research analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial announced that its board has authorized 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 reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FAF has been the topic of a number of recent analyst reports. Barclays cut their price objective on First American Financial from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price target 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, Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Activity

In other news, Director Margaret M. Mccarthy sold 3,500 shares of First American Financial stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the transaction, the director directly owned 28,095 shares in the company, valued at approximately $1,843,874.85. This trade represents a 11.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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.