Meeder Asset Management Inc. Acquires Shares of 43,907 First American Financial Corporation $FAF

Meeder Asset Management Inc. bought a new position in First American Financial Corporation (NYSE:FAF) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 43,907 shares of the insurance provider’s stock, valued at approximately $3,012,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of First American Financial by 121.3% during the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after buying an additional 813 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in First American Financial by 10.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock worth $19,233,000 after acquiring an additional 28,666 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in First American Financial by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock valued at $27,180,000 after acquiring an additional 27,600 shares in the last quarter. Jane Street Group LLC lifted its position in First American Financial by 182.5% in the 1st quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock valued at $4,435,000 after acquiring an additional 43,651 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in First American Financial by 11.3% during the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 435 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of FAF opened at $72.50 on Wednesday. First American Financial Corporation has a one year low of $56.20 and a one year high of $79.87. The business has a fifty day moving average of $71.06 and a 200 day moving average of $67.52. The firm has a market capitalization of $7.40 billion, a P/E ratio of 10.04, a PEG ratio of 0.68 and a beta of 1.22.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts expect that First American Financial Corporation will post 7.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FAF has been the subject of several recent analyst reports. Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Benchmark assumed coverage on First American Financial in a report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price objective for the company. Stephens reiterated an “overweight” rating and issued a $84.00 price objective on shares of First American Financial in a report on Friday, June 12th. Barclays upped their target price on shares of First American Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Finally, 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 note on Friday, April 24th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.60.

Insider Transactions at First American Financial

In other First American Financial 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 directly owned 10,234 shares of the company’s stock, valued at approximately $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

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.