Keybank National Association OH Makes New Investment in First American Financial Corporation $FAF

Keybank National Association OH purchased a new position in shares of First American Financial Corporation (NYSE:FAF) in the fourth quarter, HoldingsChannel reports. The fund purchased 11,976 shares of the insurance provider’s stock, valued at approximately $736,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vest Financial LLC acquired a new stake in First American Financial during the 4th quarter worth about $1,442,000. Certuity LLC acquired a new stake in First American Financial during the 4th quarter worth about $273,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in First American Financial during the 4th quarter worth about $638,000. Ashton Thomas Private Wealth LLC lifted its position in First American Financial by 34.6% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 5,764 shares of the insurance provider’s stock worth $354,000 after acquiring an additional 1,482 shares during the period. Finally, Pictet Asset Management Holding SA lifted its position in First American Financial by 2.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 364,492 shares of the insurance provider’s stock worth $22,394,000 after acquiring an additional 8,208 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Parker S. Kennedy acquired 44,841 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This represents a 21.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Margaret M. Mccarthy sold 6,630 shares of First American Financial stock in a transaction 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 completion of the transaction, the director directly owned 24,024 shares of the company’s stock, valued at $1,695,854.16. The trade was a 21.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

First American Financial Price Performance

Shares of First American Financial stock opened at $68.49 on Monday. The firm has a fifty day moving average price of $64.58 and a 200 day moving average price of $63.72. First American Financial Corporation has a 1 year low of $53.09 and a 1 year high of $71.47. The stock has a market cap of $6.98 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued 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 net margin of 8.73% and a return on equity of 12.58%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $0.84 earnings per share. The firm’s revenue was up 16.2% compared to the same quarter last year. As a group, equities analysts expect that First American Financial Corporation will post 6.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FAF. Barclays lifted their price target 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. Truist Financial raised their target price on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Weiss Ratings raised shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 22nd. Stephens raised their target price on shares of First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Wall Street Zen cut shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $82.50.

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.