Nuveen LLC Buys Shares of 314,436 First American Financial Corporation $FAF

Key Points

• Nuveen LLC has acquired a new position in First American Financial Corporation, purchasing 314,436 shares valued at approximately $20.6 million, representing about 0.31% of the company.
• Several analysts have recently adjusted their ratings and price targets for First American Financial, with Barclays lowering its price target to $70, while Keefe, Bruyette & Woods raised it to $79, reflecting a mixed outlook.
• First American Financial announced a share buyback program to repurchase up to $300 million worth of its shares, indicating confidence in its stock's value amidst a solid quarterly earnings report.

Nuveen LLC purchased a new stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 314,436 shares of the insurance provider's stock, valued at approximately $20,636,000. Nuveen LLC owned 0.31% of First American Financial as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FAF. Alpine Bank Wealth Management purchased a new position in shares of First American Financial during the first quarter valued at about $28,000. Richardson Capital Management LLC purchased a new position in shares of First American Financial during the first quarter valued at about $39,000. Versant Capital Management Inc grew its position in shares of First American Financial by 645.7% during the first quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock valued at $63,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. grew its position in shares of First American Financial by 132.1% during the first quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock valued at $80,000 after purchasing an additional 692 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock valued at $87,000 after purchasing an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company's stock.

Insider Activity

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total transaction of $229,705.00. Following the completion of the transaction, the director owned 28,095 shares in the company, valued at $1,843,874.85. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

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

First American Financial Stock Down 0.1%

FAF traded down $0.0470 on Monday, hitting $66.4130. The company had a trading volume of 358,153 shares, compared to its average volume of 651,199. The company has a market cap of $6.76 billion, a PE ratio of 36.69 and a beta of 1.24. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $70.92. The business's fifty day simple moving average is $60.94 and its 200 day simple moving average is $61.10.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.40 by $0.13. The company 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%.The firm's revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $1.27 earnings per share. On average, analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 23rd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

First American Financial Profile

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.