314,436 Shares in First American Financial Corporation $FAF Purchased by Nuveen LLC

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 position in shares of First American Financial Corporation (NYSE:FAF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FAF. Alpine Bank Wealth Management purchased a new stake in First American Financial during the 1st quarter worth $28,000. Richardson Capital Management LLC purchased a new stake in First American Financial during the 1st quarter worth $39,000. Versant Capital Management Inc boosted its position 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 during the period. UMB Bank n.a. boosted its position in First American Financial by 132.1% during the 1st quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock worth $80,000 after purchasing an additional 692 shares during the period. Finally, GAMMA Investing LLC boosted its position in First American Financial by 23.9% during the 1st quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock worth $87,000 after purchasing an additional 256 shares during the period. 89.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Margaret M. Mccarthy sold 3,500 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director owned 28,095 shares in the company, valued at approximately $1,843,874.85. This represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company's stock.

First American Financial Stock Performance

Shares of First American Financial stock traded up $1.8260 during trading on Friday, reaching $66.4860. The company had a trading volume of 584,107 shares, compared to its average volume of 676,615. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 36.73 and a beta of 1.24. The firm's fifty day moving average is $60.78 and its 200-day moving average is $61.10. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.13. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 EPS. On average, research analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial announced that its board has authorized a stock repurchase program on Wednesday, July 23rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.