US Bancorp DE Has $273,000 Stock Position in First American Financial Corporation (NYSE:FAF)

US Bancorp DE decreased its position in shares of First American Financial Corporation (NYSE:FAF) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,165 shares of the insurance provider’s stock after selling 201 shares during the period. US Bancorp DE’s holdings in First American Financial were worth $273,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in First American Financial by 0.3% during the first quarter. Principal Financial Group Inc. now owns 236,876 shares of the insurance provider’s stock valued at $15,546,000 after purchasing an additional 794 shares during the last quarter. GAMMA Investing LLC boosted its position in First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 256 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in First American Financial by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 132,150 shares of the insurance provider’s stock valued at $8,673,000 after purchasing an additional 3,557 shares during the last quarter. Bar Harbor Wealth Management boosted its position in First American Financial by 30.5% during the first quarter. Bar Harbor Wealth Management now owns 126,093 shares of the insurance provider’s stock valued at $8,275,000 after purchasing an additional 29,466 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in First American Financial during the first quarter valued at about $829,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of NYSE:FAF opened at $65.81 on Friday. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92. The business has a 50-day moving average of $59.94 and a two-hundred day moving average of $61.05. The stock has a market capitalization of $6.70 billion, a P/E ratio of 36.36 and a beta of 1.24.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.13. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, research analysts expect that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial declared that its board has approved a share repurchase program on Wednesday, July 23rd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on FAF shares. Barclays reduced their price target on First American Financial from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 8th. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price target on First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Insider Activity at First American Financial

In other news, Director Margaret M. Mccarthy sold 3,500 shares of First American Financial stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the transaction, the director directly owned 28,095 shares in the company, valued at approximately $1,843,874.85. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

First American Financial Company 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.