Vanguard Group Inc. Trims Position in First American Financial Corporation (NYSE:FAF)

Vanguard Group Inc. lowered its stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,472,177 shares of the insurance provider's stock after selling 152,840 shares during the quarter. Vanguard Group Inc. owned 10.18% of First American Financial worth $687,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its stake in shares of First American Financial by 500.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider's stock valued at $62,646,000 after purchasing an additional 836,314 shares in the last quarter. Capital International Investors bought a new stake in shares of First American Financial during the 4th quarter valued at about $41,626,000. Ariel Investments LLC boosted its stake in shares of First American Financial by 9.9% during the 4th quarter. Ariel Investments LLC now owns 3,993,155 shares of the insurance provider's stock valued at $249,333,000 after purchasing an additional 359,777 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of First American Financial during the 4th quarter valued at about $19,377,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of First American Financial by 33.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,189,162 shares of the insurance provider's stock valued at $74,251,000 after purchasing an additional 295,946 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company's stock.

First American Financial Trading Down 2.2%

Shares of NYSE:FAF traded down $1.42 during midday trading on Friday, reaching $64.43. 829,462 shares of the company were exchanged, compared to its average volume of 864,702. The business's fifty day moving average is $60.10 and its two-hundred day moving average is $61.05. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92. The stock has a market cap of $6.56 billion, a PE ratio of 35.60 and a beta of 1.24.

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

First American Financial declared that its Board of Directors has initiated a stock buyback 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 repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at First American Financial

In other news, Director Margaret M. Mccarthy sold 3,500 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $1,843,874.85. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on FAF shares. Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barclays lowered their price target on shares of 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.