Vest Financial LLC Acquires Shares of 23,474 First American Financial Corporation $FAF

Vest Financial LLC bought a new position in shares of First American Financial Corporation (NYSE:FAF) during the 4th quarter, HoldingsChannel reports. The fund bought 23,474 shares of the insurance provider’s stock, valued at approximately $1,442,000.

Several other large investors also recently modified their holdings of the stock. Maryland State Retirement & Pension System grew its holdings in shares of First American Financial by 3.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock worth $312,000 after purchasing an additional 180 shares in the last quarter. Inscription Capital LLC grew its holdings in shares of First American Financial by 2.4% during the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 181 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in shares of First American Financial by 0.9% during the 3rd 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 in the last quarter. Advisors Capital Management LLC grew its holdings in shares of First American Financial by 0.3% during the 4th 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 in the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of First American Financial by 33.0% during the 3rd quarter. Clearstead Advisors LLC now owns 859 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 213 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Trading Down 1.4%

Shares of First American Financial stock opened at $70.10 on Friday. The firm has a market capitalization of $7.14 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. The firm’s 50 day moving average is $64.58 and its 200 day moving average is $63.67. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $71.47.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.27. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The firm’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. As a group, research analysts anticipate that First American Financial Corporation will post 6.72 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on FAF. Stephens increased their target price on First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday. Barclays increased their target price on First American Financial from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Truist Financial increased their target price on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Zacks Research raised First American Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, First American Financial has a consensus rating of “Buy” and an average target price of $82.50.

Insider Activity at First American Financial

In related news, Director Margaret M. Mccarthy sold 6,630 shares of First American Financial stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the sale, the director directly owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. The trade was a 21.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Parker S. Kennedy purchased 44,841 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the acquisition, the director directly owned 251,552 shares in the company, valued at $17,067,803.20. The trade was a 21.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 3.50% of the company’s stock.

First American Financial Company 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.