Heartland Advisors Inc. Makes New $1.45 Million Investment in First American Financial Corporation $FAF

Heartland Advisors Inc. purchased a new stake in First American Financial Corporation (NYSE:FAF) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,143 shares of the insurance provider’s stock, valued at approximately $1,450,000.

Several other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP bought a new stake in First American Financial during the second quarter valued at $7,844,000. Advisors Capital Management LLC bought a new position in First American Financial in the 2nd quarter worth about $4,588,000. Diversify Advisory Services LLC bought a new position in First American Financial in the 2nd quarter worth about $317,000. First National Bank of Omaha purchased a new stake in shares of First American Financial in the 2nd quarter valued at about $2,731,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of First American Financial in the 2nd quarter valued at about $3,012,000. Institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on FAF shares. Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Keefe, Bruyette & Woods lifted their target price on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. 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. Barclays increased their price target on shares of First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Stephens restated an “overweight” rating and set a $84.00 price objective on shares of First American Financial in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and an average price target of $84.60.

Insider Activity

In other news, CAO Steven A. Adams sold 3,253 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at approximately $767,447.66. This trade represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.50% of the company’s stock.

First American Financial Stock Performance

Shares of First American Financial stock opened at $71.78 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 fifty day moving average of $71.45 and a 200-day moving average of $67.67. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 0.66 and a beta of 1.22.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.28. The company had revenue of $2.11 billion for 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%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 EPS. On average, equities research analysts forecast that First American Financial Corporation will post 7.11 earnings per share for the current fiscal year.

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.