Mitsubishi UFJ Trust & Banking Corp Acquires New Shares in First American Financial Corporation $FAF

Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of First American Financial Corporation (NYSE:FAF) during the 4th quarter, Holdings Channel.com reports. The fund acquired 10,379 shares of the insurance provider’s stock, valued at approximately $638,000.

Several other institutional investors also recently modified their holdings of the business. Maryland State Retirement & Pension System boosted its position in shares of First American Financial by 3.9% during the third quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock valued at $312,000 after buying an additional 180 shares during the last quarter. Inscription Capital LLC boosted its position in First American Financial by 2.4% in the fourth quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 181 shares during the last quarter. KLP Kapitalforvaltning AS boosted its position in First American Financial by 0.9% in the third quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider’s stock worth $1,381,000 after purchasing an additional 200 shares during the last quarter. Advisors Capital Management LLC boosted its position in First American Financial by 0.3% in the fourth quarter. Advisors Capital Management LLC now owns 68,189 shares of the insurance provider’s stock worth $4,190,000 after purchasing an additional 211 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in First American Financial by 33.0% in the third quarter. Clearstead Advisors LLC now owns 859 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 213 shares during the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FAF has been the topic of several research reports. Barclays raised their target price on First American Financial from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Truist Financial upped their target price on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Zacks Research raised shares of First American Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, Stephens upped their target price on shares of First American Financial from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, First American Financial has a consensus rating of “Buy” and a consensus price target of $82.50.

Insider Activity

In related news, Director Parker S. Kennedy acquired 44,841 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the purchase, the director directly owned 251,552 shares of the company’s stock, valued at $17,067,803.20. This represents a 21.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret M. Mccarthy sold 6,630 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $70.59, for a total value of $468,011.70. Following the completion of the transaction, the director directly owned 24,024 shares in the company, valued at $1,695,854.16. This trade represents a 21.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by company insiders.

First American Financial Stock Up 0.1%

NYSE FAF opened at $68.41 on Wednesday. The stock’s 50-day moving average price is $64.60 and its 200-day moving average price is $63.78. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $71.47. The company has a market capitalization of $6.97 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Research analysts anticipate that First American Financial Corporation will post 6.72 EPS for the current 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.