9,609 Shares in First American Financial Corporation $FAF Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of First American Financial Corporation (NYSE:FAF) in the 2nd quarter, Holdings Channel reports. The fund purchased 9,609 shares of the insurance provider’s stock, valued at approximately $661,000.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of First American Financial by 121.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 813 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of First American Financial by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock valued at $19,233,000 after buying an additional 28,666 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of First American Financial by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock valued at $27,180,000 after buying an additional 27,600 shares in the last quarter. Jane Street Group LLC increased its holdings in First American Financial by 182.5% during the first quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock worth $4,435,000 after buying an additional 43,651 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in First American Financial by 11.3% during the first quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after buying an additional 435 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FAF shares. Barclays increased their price target on shares of First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Stephens reaffirmed an “overweight” rating and issued a $84.00 target price on shares of First American Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Zacks Research cut First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, First American Financial currently has a consensus rating of “Moderate Buy” and an average price target of $84.60.

First American Financial Trading Up 0.6%

FAF stock opened at $74.00 on Thursday. The firm has a market capitalization of $7.56 billion, a PE ratio of 10.25, a PEG ratio of 0.68 and a beta of 1.21. First American Financial Corporation has a 1-year low of $56.20 and a 1-year high of $79.87. The business’s 50 day simple moving average is $72.37 and its 200 day simple moving average is $68.14.

First American Financial (NYSE:FAF) last posted its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.28. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the business earned $1.53 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts predict that First American Financial Corporation will post 7.11 EPS for the current fiscal year.

Insider Activity at First American Financial

In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $74.99, for a total value of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares in the company, valued at $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

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.