Corient Private Wealth LLC Raises Holdings in First American Financial Corporation $FAF

Key Points

• Corient Private Wealth increased its stake in First American Financial by 3.9% in the fourth quarter, bringing its holdings to 872,826 shares valued at about $53.6 million.
• Several other institutional investors also boosted their positions, and institutions overall now own 89.05% of the company’s stock.
• First American Financial reported better-than-expected quarterly results, with EPS of $1.33 versus the $1.06 estimate and revenue of $1.85 billion, while analysts currently hold a consensus Buy rating with an average price target of $82.50.

Corient Private Wealth LLC grew its holdings in First American Financial Corporation (NYSE:FAF - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 872,826 shares of the insurance provider's stock after purchasing an additional 32,507 shares during the period. Corient Private Wealth LLC owned approximately 0.86% of First American Financial worth $53,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Boston Partners increased its position 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 worth $393,690,000 after purchasing an additional 500,649 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in First American Financial by 4,485,375.2% in the fourth 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 boosted its stake in First American Financial by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,391,185 shares of the insurance provider's stock worth $269,799,000 after buying an additional 97,612 shares during the period. Capital Research Global Investors boosted its stake in 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 during the period. Finally, Geode Capital Management LLC boosted its stake in First American Financial by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,793,179 shares of the insurance provider's stock worth $110,200,000 after buying an additional 19,752 shares during the period. Institutional investors and hedge funds own 89.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FAF shares. Stephens reissued an "overweight" rating and issued a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Zacks Research raised shares of First American Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Wall Street Zen downgraded shares of First American Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of First American Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 22nd. Finally, Barclays boosted their target price on First American Financial from $72.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, First American Financial presently has a consensus rating of "Buy" and a consensus price target of $82.50.

Insider Activity at First American Financial

In other news, SVP Lisa W. Cornehl sold 5,823 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the transaction, the senior vice president owned 29,635 shares in the company, valued at approximately $2,033,850.05. This represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Margaret M. Mccarthy sold 6,630 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the transaction, the director directly owned 24,024 shares in the company, valued at $1,695,854.16. This trade represents a 21.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company's stock.

First American Financial Price Performance

Shares of First American Financial stock opened at $68.73 on Monday. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. The business has a 50-day moving average of $67.12 and a 200 day moving average of $64.77. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $71.47.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The business had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the prior year, the firm posted $0.84 EPS. The business's quarterly revenue was up 16.2% compared to the same quarter last year. Equities research analysts anticipate that First American Financial Corporation will post 6.81 earnings per share for the current year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, June 8th. First American Financial's dividend payout ratio is currently 33.79%.

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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