Squarepoint Ops LLC Sells 128,057 Shares of First American Financial Corporation $FAF

Squarepoint Ops LLC reduced its stake in shares of First American Financial Corporation (NYSE:FAF) by 45.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 153,670 shares of the insurance provider’s stock after selling 128,057 shares during the period. Squarepoint Ops LLC’s holdings in First American Financial were worth $10,540,000 as of its most recent SEC filing.

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

Insider Buying and Selling at First American Financial

In related news, CAO Steven Adams sold 3,253 shares of the 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 sale, the chief accounting officer owned 10,234 shares in the company, valued at approximately $767,447.66. This represents a 24.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Stephens reaffirmed an “overweight” rating and set a $84.00 price target on shares of First American Financial in a research report on Friday, June 12th. Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Zacks Research cut shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Benchmark started coverage on shares of First American Financial in a report on Tuesday, July 21st. They set a “buy” rating and a $85.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.60.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $71.17 on Friday. First American Financial Corporation has a 52-week low of $56.20 and a 52-week high of $79.87. The company has a market capitalization of $7.27 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21. The company has a 50-day simple moving average of $72.90 and a 200 day simple moving average of $68.38.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $1.53 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities analysts forecast that First American Financial Corporation will post 7.11 earnings per share for the current year.

First American Financial Profile

First American Financial Corporation (NYSE: FAF) provides title insurance, settlement services and risk solutions for real estate transactions. Through its title insurance operations, the company protects property buyers, lenders and other parties against certain losses arising from defects in ownership records, liens and other title-related issues.

The company also offers escrow and closing services, real estate data and analytics, valuation products, and technology solutions designed to support mortgage lenders, real estate professionals, homebuilders and commercial property participants.