Wellington Management Group LLP Sells 4,454 Shares of First American Financial Corporation $FAF

Key Points

• Wellington Management Group LLP sold 4,454 shares of First American Financial, reducing its holdings to 1,731,103 shares, valued at $113.6 million.
• First American Financial reported a 14.2% increase in revenue for the last quarter, with earnings per share of $1.53, surpassing analysts' expectations.
• The company's board has initiated a stock repurchase plan to buy back $300 million in shares, indicating confidence in the stock's valuation.

Wellington Management Group LLP trimmed its holdings in First American Financial Corporation (NYSE:FAF - Free Report) by 0.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,731,103 shares of the insurance provider's stock after selling 4,454 shares during the quarter. Wellington Management Group LLP owned about 1.68% of First American Financial worth $113,612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Adams Wealth Management boosted its position in First American Financial by 1.9% in the first quarter. Adams Wealth Management now owns 10,983 shares of the insurance provider's stock worth $721,000 after purchasing an additional 207 shares during the last quarter. CacheTech Inc. lifted its stake in shares of First American Financial by 1.9% in the 1st quarter. CacheTech Inc. now owns 10,983 shares of the insurance provider's stock worth $721,000 after purchasing an additional 207 shares during the period. American Century Companies Inc. boosted its holdings in shares of First American Financial by 0.5% in the first quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider's stock worth $2,823,000 after buying an additional 229 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in First American Financial by 0.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 84,344 shares of the insurance provider's stock valued at $5,266,000 after buying an additional 230 shares during the period. Finally, GAMMA Investing LLC increased its holdings in First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock valued at $87,000 after buying an additional 256 shares during the last quarter. Institutional investors own 89.05% of the company's stock.

Insider Transactions at First American Financial

In related news, Director Margaret M. Mccarthy sold 3,500 shares of the business'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 transaction, the director directly owned 28,095 shares of the company's stock, valued at approximately $1,843,874.85. The trade was a 11.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company's stock.

First American Financial Stock Performance

FAF opened at $64.5980 on Friday. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 35.69 and a beta of 1.24. The firm's fifty day moving average is $60.63 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 quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.13. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.During the same quarter in the prior year, the business posted $1.27 EPS. First American Financial's revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial announced that its board has initiated a stock repurchase plan on Wednesday, July 23rd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FAF has been the topic of several analyst reports. Wall Street Zen upgraded shares of First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Barclays decreased their target price on 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. Finally, Keefe, Bruyette & Woods upped 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. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, First American Financial presently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

First American Financial Profile

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.

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