Comerica Bank cut its position in First American Financial Corp (NYSE:FAF) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,204 shares of the insurance provider’s stock after selling 8,046 shares during the quarter. Comerica Bank owned about 0.30% of First American Financial worth $15,381,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of First American Financial by 139.9% in the third quarter. Parallel Advisors LLC now owns 3,498 shares of the insurance provider’s stock valued at $180,000 after buying an additional 2,040 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of First American Financial in the second quarter valued at $265,000. HPM Partners LLC bought a new position in shares of First American Financial in the second quarter valued at $319,000. Private Advisor Group LLC bought a new position in shares of First American Financial in the second quarter valued at $333,000. Finally, Seven Eight Capital LP bought a new position in shares of First American Financial in the third quarter valued at $340,000. 83.38% of the stock is owned by institutional investors and hedge funds.
In other First American Financial news, insider Matthew F. Wajner sold 4,982 shares of First American Financial stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $57.29, for a total transaction of $285,418.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth D. Degiorgio sold 13,871 shares of First American Financial stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $57.25, for a total transaction of $794,114.75. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
FAF stock opened at $44.83 on Tuesday. First American Financial Corp has a one year low of $41.96 and a one year high of $62.71. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 0.77 and a beta of 0.84.
First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.26 EPS for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.02). First American Financial had a return on equity of 13.68% and a net margin of 10.39%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. On average, equities analysts predict that First American Financial Corp will post 4.47 EPS for the current year.
FAF has been the subject of a number of research analyst reports. Piper Jaffray Companies lifted their price objective on shares of First American Financial from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Zacks Investment Research cut shares of First American Financial from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine cut shares of First American Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Finally, Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research report on Monday, July 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $57.50.
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About First American Financial
First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.
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