First American Financial (NYSE:FAF) SVP Lisa Cornehl Sells 5,823 Shares of Stock

First American Financial Corporation (NYSE:FAF) SVP Lisa Cornehl sold 5,823 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the transaction, the senior vice president directly owned 29,635 shares of the company’s stock, valued at $2,033,850.05. The trade was a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

First American Financial Price Performance

FAF opened at $69.71 on Friday. First American Financial Corporation has a one year low of $53.09 and a one year high of $71.47. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 0.68 and a beta of 1.28. The business has a 50 day simple moving average of $64.72 and a two-hundred day simple moving average of $63.93.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (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 during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The business’s revenue was up 16.2% compared to the same quarter last year. As a group, sell-side analysts expect that First American Financial Corporation will post 6.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FAF. Jones Financial Companies Lllp increased its position in First American Financial by 121.3% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. increased its position in First American Financial by 10.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock valued at $19,233,000 after buying an additional 28,666 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in First American Financial by 7.1% during 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 buying an additional 27,600 shares in the last quarter. Jane Street Group LLC increased its position in First American Financial by 182.5% during the 1st quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock valued at $4,435,000 after buying an additional 43,651 shares in the last quarter. Finally, Focus Partners Wealth increased its position 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 buying an additional 435 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FAF. 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 research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Wall Street Zen lowered First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Stephens increased their target price on First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Barclays increased 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. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, First American Financial has a consensus rating of “Buy” and an average target price of $82.50.

About First American Financial

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.