Public Employees Retirement System of Ohio Makes New $2.07 Million Investment in First American Financial Corporation $FAF

Public Employees Retirement System of Ohio acquired a new position in shares of First American Financial Corporation (NYSE:FAF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 30,180 shares of the insurance provider’s stock, valued at approximately $2,070,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in First American Financial in the second quarter worth $643,570,000. Boston Partners increased its holdings in First American Financial by 8.9% in the 3rd quarter. Boston Partners now owns 6,133,594 shares of the insurance provider’s stock valued at $393,690,000 after buying an additional 500,649 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in First American Financial by 4,485,375.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after buying an additional 5,786,134 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First American Financial by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,636,464 shares of the insurance provider’s stock valued at $279,529,000 after buying an additional 245,279 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of First American Financial by 3.3% in the 4th quarter. Capital Research Global Investors now owns 3,415,825 shares of the insurance provider’s stock valued at $209,868,000 after buying an additional 109,242 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

First American Financial Trading Down 0.0%

Shares of First American Financial stock opened at $72.74 on Monday. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.67 and a beta of 1.21. The firm’s 50-day moving average price is $72.71 and its two-hundred day moving average price is $68.24. First American Financial Corporation has a 1-year low of $56.20 and a 1-year high of $79.87.

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

Insider Transactions at First American Financial

In other First American Financial news, CAO Steven Adams sold 3,253 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the transaction, the chief accounting officer owned 10,234 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.