UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $20.48 Million Stake in First American Financial Corporation $FAF

Key Points

• UBS Asset Management reduced its First American Financial stake by 9% in the second quarter, selling 29,713 shares and retaining 298,644 shares valued at approximately $20.48 million.
• Institutional investors own 89.05% of FAF, with BlackRock, Northwestern Mutual, Davis Asset Management, Norges Bank and Mendon Capital among investors recently adding or initiating positions.
• First American Financial reported quarterly EPS of $2.08 versus the $1.80 consensus estimate, while revenue rose 15% year over year to $2.11 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $84.60, compared with the stock’s $72.74 opening price.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,644 shares of the insurance provider's stock after selling 29,713 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.29% of First American Financial worth $20,484,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FAF. BlackRock Inc. acquired a new stake in shares of First American Financial during the 2nd quarter valued at about $643,570,000. Northwestern Mutual Wealth Management Co. lifted its stake in First American Financial by 4,485,375.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider's stock worth $355,508,000 after purchasing an additional 5,786,134 shares during the period. Davis Asset Management L.P. bought a new position in First American Financial during the second quarter worth about $102,885,000. Norges Bank acquired a new stake in First American Financial during the fourth quarter valued at approximately $75,011,000. Finally, Mendon Capital Advisors Corp acquired a new stake in First American Financial during the first quarter valued at approximately $71,680,000. Institutional investors and hedge funds own 89.05% of the company's stock.

Insider Buying and Selling

In other First American Financial news, CAO Steven Adams sold 3,253 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the sale, the chief accounting officer directly owned 10,234 shares of the company's stock, valued at approximately $767,447.66. The trade was a 24.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

First American Financial Stock Down 4.9%

Shares of NYSE FAF opened at $72.74 on Friday. The firm's 50-day simple moving average is $72.71 and its 200 day simple moving average is $68.24. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 0.71 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 announced its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.28. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $1.53 earnings per share. First American Financial's quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts expect that First American Financial Corporation will post 7.11 earnings per share for the current year.

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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