First American Financial Corporation $FAF Stock Position Trimmed by Trexquant Investment LP

Trexquant Investment LP cut its position in First American Financial Corporation (NYSE:FAF) by 4.7% during the 1st quarter, HoldingsChannel reports. The firm owned 95,469 shares of the insurance provider’s stock after selling 4,702 shares during the quarter. Trexquant Investment LP’s holdings in First American Financial were worth $6,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Adams Wealth Management increased its stake in First American Financial by 1.9% during the 1st quarter. Adams Wealth Management now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after buying an additional 207 shares during the period. CacheTech Inc. increased its stake in First American Financial by 1.9% during the 1st quarter. CacheTech Inc. now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after buying an additional 207 shares during the period. American Century Companies Inc. increased its stake in First American Financial by 0.5% during the 1st quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock valued at $2,823,000 after buying an additional 229 shares during the period. The Manufacturers Life Insurance Company increased its stake in First American Financial by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 84,344 shares of the insurance provider’s stock valued at $5,266,000 after buying an additional 230 shares during the period. Finally, GAMMA Investing LLC increased its stake in First American Financial by 23.9% during the 1st quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider’s stock valued at $87,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Activity

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total value of $229,705.00. Following the completion of the transaction, the director directly owned 28,095 shares in the company, valued at $1,843,874.85. This trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on FAF shares. Barclays lowered their target price on shares of First American Financial from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 8th. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

First American Financial Price Performance

Shares of FAF opened at $66.04 on Monday. The firm’s 50 day moving average is $61.58 and its 200-day moving average is $61.18. The stock has a market capitalization of $6.72 billion, a P/E ratio of 36.49 and a beta of 1.26. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $70.92.

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

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

About First American Financial

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.