Jupiter Topco LLC Takes $2.86 Million Position in First American Financial Corporation $FAF

Key Points

• Jupiter Topco LLC acquired 41,644 shares of First American Financial in the second quarter, valued at approximately $2.86 million. Institutional investors own 89.05% of the company’s stock.
• First American Financial reported quarterly EPS of $2.08, beating estimates of $1.80, while revenue reached $2.11 billion and rose 15% year over year.
• Analysts maintain a generally positive outlook, with seven Buy ratings and one Hold rating; the stock has a “Moderate Buy” consensus and an average price target of $84.60 versus its reported $74.00 share price.

Jupiter Topco LLC acquired a new position in shares of First American Financial Corporation (NYSE:FAF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 41,644 shares of the insurance provider's stock, valued at approximately $2,858,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FAF. Duncker Streett & Co. Inc. increased its stake in shares of First American Financial by 616.4% during the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider's stock valued at $26,000 after buying an additional 376 shares during the period. Global Retirement Partners LLC raised its holdings in shares of First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 443 shares in the last quarter. Danske Bank A S bought a new position in First American Financial in the third quarter worth approximately $45,000. IFP Advisors Inc raised its stake in First American Financial by 568.8% in the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider's stock worth $46,000 after buying an additional 637 shares in the last quarter. Finally, SHP Wealth Management purchased a new stake in First American Financial during the fourth quarter worth $51,000. 89.05% of the stock is owned by institutional investors.

First American Financial Trading Up 0.6%

Shares of First American Financial stock opened at $74.00 on Thursday. The firm's 50 day simple moving average is $72.37 and its two-hundred day simple moving average is $68.14. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.68 and a beta of 1.21. First American Financial Corporation has a 12-month low of $56.20 and a 12-month high of $79.87.

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

Insider Activity at First American Financial

In related news, CAO Steven A. Adams sold 3,253 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the sale, the chief accounting officer owned 10,234 shares in the company, valued at $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

FAF has been the subject of a number of analyst reports. Zacks Research cut First American Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Benchmark assumed coverage on shares of First American Financial in a research note on Tuesday, July 21st. They set a "buy" rating and a $85.00 price objective for the company. Weiss Ratings reissued a "buy (b)" rating on shares of First American Financial in a research report on Monday, July 20th. Barclays raised their target price on shares of First American Financial from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods increased their price objective on First American Financial from $84.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.60.

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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