GSA Capital Partners LLP Makes New $668,000 Investment in First American Financial Corporation $FAF

GSA Capital Partners LLP bought a new stake in shares of First American Financial Corporation (NYSE:FAF) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 9,733 shares of the insurance provider’s stock, valued at approximately $668,000.

A number of other large investors also recently made changes to their positions in FAF. Duncker Streett & Co. Inc. increased its holdings in First American Financial by 616.4% in the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 376 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of First American Financial by 1,107.5% during the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after buying an additional 443 shares during the period. Danske Bank A S acquired a new position in shares of First American Financial during the 3rd quarter worth about $45,000. IFP Advisors Inc increased its stake in shares of First American Financial by 568.8% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 637 shares during the last quarter. Finally, SHP Wealth Management acquired a new stake in shares of First American Financial in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Activity

In other news, CAO Steven A. Adams sold 3,253 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the sale, the chief accounting officer owned 10,234 shares of the company’s stock, valued at approximately $767,447.66. This represents a 24.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FAF shares. Barclays boosted their price objective on shares of First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Truist Financial lifted their price target on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Stephens reissued an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Zacks Research downgraded First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a research report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.60.

First American Financial Stock Performance

Shares of FAF stock opened at $72.84 on Thursday. First American Financial Corporation has a 52-week low of $56.20 and a 52-week high of $79.87. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 0.67 and a beta of 1.22. The firm’s 50-day moving average is $71.19 and its 200-day moving average is $67.58.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, topping 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 analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $1.53 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. Sell-side analysts predict that First American Financial Corporation will post 7.11 EPS for the current fiscal year.

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.