Versor Investments LP Increases Holdings in First American Financial Corporation $FAF

Key Points

• Versor Investments LP boosted its stake in First American Financial by 148.2% in the fourth quarter, ending with 31,870 shares valued at about $1.96 million.
• Other institutional investors also increased holdings, and hedge funds and other institutions now own 89.05% of the company’s stock.
• First American Financial beat quarterly expectations with $1.33 EPS on $1.85 billion in revenue, while analysts currently maintain a Buy consensus and average price target of $82.50.

Versor Investments LP raised its stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 148.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,870 shares of the insurance provider's stock after buying an additional 19,029 shares during the quarter. Versor Investments LP's holdings in First American Financial were worth $1,958,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FAF. Jones Financial Companies Lllp increased its holdings in shares of First American Financial by 121.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider's stock worth $97,000 after purchasing an additional 813 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of First American Financial by 10.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider's stock worth $19,233,000 after purchasing an additional 28,666 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of First American Financial by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider's stock worth $27,180,000 after purchasing an additional 27,600 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of First American Financial by 182.5% in the 1st quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider's stock worth $4,435,000 after purchasing an additional 43,651 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of First American Financial by 11.3% in the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider's stock worth $281,000 after purchasing an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company's stock.

Insider Buying and Selling at First American Financial

In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total transaction of $399,632.49. Following the completion of the sale, the senior vice president owned 29,635 shares of the company's stock, valued at approximately $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Parker S. Kennedy purchased 44,841 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the acquisition, the director directly owned 251,552 shares of the company's stock, valued at $17,067,803.20. This trade represents a 21.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by corporate insiders.

First American Financial Price Performance

Shares of FAF opened at $68.45 on Tuesday. First American Financial Corporation has a one year low of $53.09 and a one year high of $71.47. The firm has a market capitalization of $6.97 billion, a P/E ratio of 10.51, a PEG ratio of 0.69 and a beta of 1.28. The business has a fifty day moving average of $64.79 and a 200 day moving average of $64.05.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.06 by $0.27. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.First American Financial's revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Analysts expect that First American Financial Corporation will post 6.72 EPS for the current fiscal year.

Analyst Ratings Changes

FAF has been the subject of a number of research analyst reports. Weiss Ratings raised First American Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 22nd. Stephens lifted their target price on First American Financial from $81.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Truist Financial lifted their target price on First American Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of First American Financial in a report on Friday, February 13th. Finally, Wall Street Zen lowered First American Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $82.50.

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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