Hsbc Holdings PLC Increases Stake in First American Financial Co. (NYSE:FAF)

Hsbc Holdings PLC lifted its holdings in shares of First American Financial Co. (NYSE:FAF - Free Report) by 243.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,416 shares of the insurance provider's stock after buying an additional 12,350 shares during the period. Hsbc Holdings PLC's holdings in First American Financial were worth $1,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of First American Financial in the 4th quarter valued at approximately $75,780,000. FMR LLC grew its position in First American Financial by 20.8% in the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock valued at $377,559,000 after buying an additional 1,042,145 shares during the last quarter. Corient Private Wealth LLC increased its stake in First American Financial by 13,222.0% in the 4th quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock valued at $53,029,000 after buying an additional 842,904 shares during the period. Prudential Financial Inc. raised its position in First American Financial by 6,233.2% during the 4th quarter. Prudential Financial Inc. now owns 706,211 shares of the insurance provider's stock worth $44,096,000 after buying an additional 695,060 shares during the last quarter. Finally, Capital International Investors acquired a new stake in shares of First American Financial in the 4th quarter worth $41,626,000. Hedge funds and other institutional investors own 89.05% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. StockNews.com cut First American Financial from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Stephens upped their price objective on First American Financial from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, Barclays increased their price objective on First American Financial from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

First American Financial Trading Down 0.2 %

Shares of NYSE:FAF traded down $0.11 during trading on Wednesday, hitting $61.14. 592,398 shares of the stock were exchanged, compared to its average volume of 657,177. First American Financial Co. has a 12-month low of $51.85 and a 12-month high of $70.92. The company has a market cap of $6.29 billion, a PE ratio of 48.91 and a beta of 1.29. The company has a fifty day moving average price of $62.47 and a two-hundred day moving average price of $63.49.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.19. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Equities research analysts anticipate that First American Financial Co. will post 5.35 earnings per share for the current fiscal year.

Insider Buying and Selling at First American Financial

In other First American Financial news, CFO Mark Edward Seaton sold 12,679 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $64.28, for a total transaction of $815,006.12. Following the completion of the transaction, the chief financial officer now owns 195,812 shares of the company's stock, valued at approximately $12,586,795.36. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Lisa W. Cornehl sold 3,057 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $65.49, for a total value of $200,202.93. Following the completion of the sale, the senior vice president now owns 23,825 shares in the company, valued at $1,560,299.25. This represents a 11.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,707 shares of company stock worth $8,136,565. 3.70% of the stock is owned by corporate insiders.

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.