Lisa Cornehl Sells 5,823 Shares of First American Financial (NYSE:FAF) Stock

Key Points

• SVP Lisa Cornehl sold 5,823 shares on May 5 at an average price of $68.63 for about $399,632, leaving her with 29,635 shares (a 16.42% reduction in her position).
• First American topped Q1 expectations with $1.33 EPS (vs. $1.06) and $1.85B revenue (up 16.2% YoY); analysts have upgraded the stock and the consensus rating is Buy with a $82.50 price target.

First American Financial Corporation (NYSE:FAF - Get Free Report) SVP Lisa Cornehl sold 5,823 shares of the business's stock in a transaction that occurred on 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 transaction, the senior vice president owned 29,635 shares of the company's stock, valued at $2,033,850.05. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

First American Financial Stock Down 0.4%

NYSE:FAF traded down $0.25 during trading hours on Thursday, hitting $69.71. 642,217 shares of the stock were exchanged, compared to its average volume of 1,047,998. The company's 50 day moving average is $64.67 and its two-hundred day moving average is $63.86. The company has a market capitalization of $7.10 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28. First American Financial Corporation has a twelve month low of $53.09 and a twelve month 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 analysts' consensus estimates 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 return on equity of 12.58% and a net margin of 8.73%.The firm's quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. On average, equities research analysts expect that First American Financial Corporation will post 6.72 EPS for the current year.

Analyst Upgrades and Downgrades

FAF has been the subject of several recent research reports. Stephens upped their target price on shares of First American Financial from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Weiss Ratings upgraded First American Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 22nd. Truist Financial lifted their target price on First American Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Zacks Research upgraded shares of First American Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of First American Financial in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $82.50.

Institutional Investors Weigh In On First American Financial

A number of institutional investors have recently made changes to their positions in FAF. Bar Harbor Wealth Management lifted its position in First American Financial by 52.4% during the fourth quarter. Bar Harbor Wealth Management now owns 135,649 shares of the insurance provider's stock worth $8,334,000 after purchasing an additional 46,639 shares during the period. Allianz Asset Management GmbH grew its position in First American Financial by 10.6% in the third quarter. Allianz Asset Management GmbH now owns 210,739 shares of the insurance provider's stock valued at $13,538,000 after acquiring an additional 20,188 shares during the last quarter. Channing Capital Management LLC grew its position in First American Financial by 16.9% in the third quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider's stock valued at $99,430,000 after acquiring an additional 224,277 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in First American Financial by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,293,573 shares of the insurance provider's stock valued at $275,816,000 after purchasing an additional 168,706 shares during the last quarter. Finally, US Bancorp DE lifted its stake in First American Financial by 656.0% in the 3rd quarter. US Bancorp DE now owns 32,666 shares of the insurance provider's stock valued at $2,098,000 after purchasing an additional 28,345 shares during the last quarter. Institutional investors own 89.05% of the company's stock.

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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