First American Financial (NYSE:FAF) Director Margaret Mccarthy Sells 6,630 Shares of Stock

Key Points

• Director Margaret McCarthy sold 6,630 shares on April 24 at an average price of $70.59 for a total of $468,011.70, trimming her stake by 21.63% to 24,024 shares valued at about $1.695M.
• First American beat Q1 estimates, reporting EPS of $1.33 versus a $1.06 consensus and revenue of $1.85B (up 16.2% YoY); analysts hold a consensus "Buy" rating with a $82.50 price target.

First American Financial Corporation (NYSE:FAF - Get Free Report) Director Margaret Mccarthy sold 6,630 shares of the business's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the sale, the director directly owned 24,024 shares of the company's stock, valued at $1,695,854.16. The trade was a 21.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First American Financial Stock Up 0.5%

Shares of FAF traded up $0.34 during midday trading on Tuesday, hitting $69.76. The company had a trading volume of 409,908 shares, compared to its average volume of 1,055,842. The company's 50 day moving average price is $64.36 and its 200 day moving average price is $63.49. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.73 and a beta of 1.28. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $71.47.

First American Financial (NYSE:FAF - Get Free Report) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share 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 the consensus estimate of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.59%. The company's revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 EPS. Equities analysts anticipate that First American Financial Corporation will post 6.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FAF. Naples Global Advisors LLC raised its position in shares of First American Financial by 2.4% during the 4th quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider's stock worth $461,000 after buying an additional 175 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of First American Financial by 3.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider's stock worth $312,000 after buying an additional 180 shares in the last quarter. Inscription Capital LLC raised its position in shares of First American Financial by 2.4% during the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider's stock worth $469,000 after buying an additional 181 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in shares of First American Financial by 0.9% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider's stock worth $1,381,000 after buying an additional 200 shares in the last quarter. Finally, Danske Bank A S raised its holdings in shares of First American Financial by 28.6% in the 4th quarter. Danske Bank A S now owns 900 shares of the insurance provider's stock worth $55,000 after purchasing an additional 200 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FAF shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of First American Financial in a research report on Friday, February 13th. Truist Financial boosted their target price on shares of First American Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday. Weiss Ratings raised shares of First American Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. Finally, Stephens boosted their target price on shares of First American Financial from $81.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $82.50.

About First American Financial

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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