UBS Group AG Raises Position in First American Financial Corporation $FAF

UBS Group AG grew its position in shares of First American Financial Corporation (NYSE:FAF) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 786,050 shares of the insurance provider’s stock after purchasing an additional 18,175 shares during the period. UBS Group AG’s holdings in First American Financial were worth $48,295,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Maryland State Retirement & Pension System boosted its position in shares of First American Financial by 3.9% during the third quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock valued at $312,000 after purchasing an additional 180 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in First American Financial by 0.9% in the third quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider’s stock worth $1,381,000 after purchasing an additional 200 shares during the period. Advisors Capital Management LLC raised its holdings in First American Financial by 0.3% in the fourth quarter. Advisors Capital Management LLC now owns 68,189 shares of the insurance provider’s stock worth $4,190,000 after purchasing an additional 211 shares in the last quarter. Clearstead Advisors LLC lifted its position in First American Financial by 33.0% during the third quarter. Clearstead Advisors LLC now owns 859 shares of the insurance provider’s stock valued at $55,000 after buying an additional 213 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in First American Financial by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 45,932 shares of the insurance provider’s stock valued at $2,820,000 after buying an additional 220 shares during the period. Institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

FAF has been the topic of a number of recent research reports. 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Stephens upped their price objective on shares of First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Truist Financial raised their target price on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Wall Street Zen lowered shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, First American Financial currently has an average rating of “Buy” and an average target price of $82.50.

First American Financial Price Performance

FAF opened at $70.01 on Thursday. The firm has a market cap of $7.13 billion, a PE ratio of 10.75, a P/E/G ratio of 0.67 and a beta of 1.28. The stock has a 50-day moving average price of $64.67 and a 200-day moving average price of $63.86. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $71.47.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.27. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. First American Financial’s revenue was up 16.2% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. As a group, sell-side analysts anticipate that First American Financial Corporation will post 6.72 EPS for the current year.

Insider Buying and Selling

In related news, Director Margaret M. Mccarthy sold 6,630 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the sale, the director owned 24,024 shares of the company’s stock, valued at $1,695,854.16. This trade represents a 21.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Parker S. Kennedy acquired 44,841 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares in the company, valued at $17,067,803.20. The trade was a 21.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.50% of the company’s stock.

First American Financial 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.