Raymond James Financial Inc. Has $8.28 Million Stock Position in First American Financial Corporation $FAF

Raymond James Financial Inc. lowered its position in First American Financial Corporation (NYSE:FAF) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,149 shares of the insurance provider’s stock after selling 892 shares during the period. Raymond James Financial Inc. owned 0.12% of First American Financial worth $8,279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Adams Wealth Management lifted its holdings in shares of First American Financial by 1.9% in the first quarter. Adams Wealth Management now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after purchasing an additional 207 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of First American Financial by 0.5% in the first quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 229 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First American Financial by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,150,660 shares of the insurance provider’s stock valued at $272,406,000 after purchasing an additional 187,144 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of First American Financial in the first quarter valued at approximately $1,810,000. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of First American Financial by 21.6% in the first quarter. Vestmark Advisory Solutions Inc. now owns 10,755 shares of the insurance provider’s stock valued at $706,000 after purchasing an additional 1,910 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

Insider Transactions at First American Financial

In related news, Director Margaret M. Mccarthy sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total transaction of $229,705.00. Following the transaction, the director owned 28,095 shares in the company, valued at $1,843,874.85. The trade was a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Barclays decreased their target price 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. Finally, Keefe, Bruyette & Woods lifted their price target on First American Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

First American Financial Trading Up 0.9%

NYSE FAF opened at $66.04 on Tuesday. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92. The stock has a 50-day moving average of $61.70 and a 200-day moving average of $61.20. The firm has a market cap of $6.72 billion, a PE ratio of 36.49 and a beta of 1.26.

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

First American Financial declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 23rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.