First American Financial Corporation $FAF Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP reduced its First American Financial stake by 4.2% in the second quarter, selling 29,606 shares and retaining 670,114 shares worth approximately $46.0 million. Institutional investors collectively own 89.05% of the company.
• First American Financial reported stronger-than-expected quarterly results, with EPS of $2.08 versus the $1.80 consensus estimate and revenue of $2.11 billion, up 15% year over year.
• The stock opened at $71.78, while analysts maintained a generally positive outlook: seven analysts rated it Buy and one rated it Hold, with an average price target of $84.60 versus the current price.

Corient Private Wealth LP lowered its position in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 4.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 670,114 shares of the insurance provider's stock after selling 29,606 shares during the quarter. Corient Private Wealth LP owned about 0.66% of First American Financial worth $45,963,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FAF. Jackson Creek Investment Advisors LLC acquired a new stake in shares of First American Financial in the fourth quarter worth $1,608,000. Jefferies Financial Group Inc. purchased a new stake in shares of First American Financial during the 4th quarter valued at about $6,713,000. Mendon Capital Advisors Corp acquired a new position in First American Financial during the 1st quarter worth approximately $71,680,000. BlackRock Inc. purchased a new position in First American Financial in the 2nd quarter worth approximately $643,570,000. Finally, Gabelli Funds LLC grew its position in First American Financial by 81.6% in the fourth quarter. Gabelli Funds LLC now owns 79,362 shares of the insurance provider's stock valued at $4,876,000 after acquiring an additional 35,650 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Stock Up 0.8%

Shares of NYSE FAF opened at $71.78 on Friday. The stock's 50 day moving average price is $72.94 and its two-hundred day moving average price is $68.40. First American Financial Corporation has a 52-week low of $56.20 and a 52-week high of $79.87. The stock has a market capitalization of $7.33 billion, a P/E ratio of 9.94, a PEG ratio of 0.66 and a beta of 1.21.

First American Financial (NYSE:FAF - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping the consensus estimate of $1.80 by $0.28. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $1.53 EPS. The business's revenue was up 15.0% on a year-over-year basis. On average, analysts anticipate that First American Financial Corporation will post 7.11 EPS for the current year.

Insider Transactions at First American Financial

In other First American Financial news, CAO Steven Adams sold 3,253 shares of First American Financial stock in a transaction on Friday, July 24th. The shares were sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the transaction, the chief accounting officer owned 10,234 shares of the company's stock, valued at $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of First American Financial from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First American Financial in a research report on Monday, July 20th. Benchmark started coverage on First American Financial in a research note on Tuesday, July 21st. They issued a "buy" rating and a $85.00 price target on the stock. Stephens reissued an "overweight" rating and issued a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Finally, Zacks Research lowered First American Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, First American Financial has an average rating of "Moderate Buy" and an average target price of $84.60.

First American Financial Profile

First American Financial Corporation NYSE: FAF provides title insurance, settlement services and risk solutions for real estate transactions. Through its title insurance operations, the company protects property buyers, lenders and other parties against certain losses arising from defects in ownership records, liens and other title-related issues.

The company also offers escrow and closing services, real estate data and analytics, valuation products, and technology solutions designed to support mortgage lenders, real estate professionals, homebuilders and commercial property participants.

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