Russell Investments Group Ltd. Sells 125,194 Shares of First American Financial Corporation $FAF

Russell Investments Group Ltd. lowered its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 36.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,643 shares of the insurance provider's stock after selling 125,194 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of First American Financial worth $14,087,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. HighTower Advisors LLC raised its position in shares of First American Financial by 3.5% during the first quarter. HighTower Advisors LLC now owns 8,638 shares of the insurance provider's stock worth $567,000 after purchasing an additional 290 shares during the period. Nuveen LLC acquired a new stake in shares of First American Financial during the first quarter worth about $20,636,000. Entropy Technologies LP raised its position in shares of First American Financial by 159.1% during the first quarter. Entropy Technologies LP now owns 24,614 shares of the insurance provider's stock worth $1,615,000 after purchasing an additional 15,114 shares during the period. Invesco Ltd. raised its position in shares of First American Financial by 40.9% during the first quarter. Invesco Ltd. now owns 430,908 shares of the insurance provider's stock worth $28,280,000 after purchasing an additional 124,975 shares during the period. Finally, Deutsche Bank AG raised its position in shares of First American Financial by 6.2% during the first quarter. Deutsche Bank AG now owns 8,369 shares of the insurance provider's stock worth $549,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Price Performance

FAF stock traded up $2.13 during mid-day trading on Friday, reaching $66.79. The company had a trading volume of 132,939 shares, compared to its average volume of 891,343. The stock has a 50 day simple moving average of $60.63 and a two-hundred day simple moving average of $61.10. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 36.90 and a beta of 1.24. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.13. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The business's revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. On average, equities analysts predict that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial declared that its Board of Directors has approved a stock buyback program on Wednesday, July 23rd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the firm'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 value of $229,705.00. Following the completion of the transaction, the director directly owned 28,095 shares in the company, valued at $1,843,874.85. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.