Seven Eight Capital LP Purchases New Stake in First American Financial Corp (FAF)

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Seven Eight Capital LP purchased a new position in shares of First American Financial Corp (NYSE:FAF) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 6,600 shares of the insurance provider’s stock, valued at approximately $340,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of First American Financial during the second quarter worth $265,000. HPM Partners LLC acquired a new stake in shares of First American Financial during the second quarter worth $319,000. Private Advisor Group LLC acquired a new position in First American Financial in the second quarter valued at $333,000. Fox Run Management L.L.C. acquired a new position in First American Financial in the third quarter valued at $370,000. Finally, Atria Investments LLC acquired a new position in First American Financial in the third quarter valued at $393,000. 83.52% of the stock is owned by institutional investors.

FAF has been the topic of a number of research analyst reports. Piper Jaffray Companies lifted their target price on First American Financial from $63.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Zacks Investment Research cut First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine cut First American Financial from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Finally, Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.50.

In other First American Financial news, insider Matthew F. Wajner sold 4,982 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $57.29, for a total transaction of $285,418.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kenneth D. Degiorgio sold 13,871 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $57.25, for a total value of $794,114.75. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Shares of First American Financial stock opened at $44.33 on Tuesday. First American Financial Corp has a twelve month low of $41.96 and a twelve month high of $62.71. The firm has a market capitalization of $4.89 billion, a P/E ratio of 16.12, a PEG ratio of 0.75 and a beta of 0.70.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.26 EPS for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.02). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. First American Financial had a return on equity of 13.68% and a net margin of 10.39%. Equities analysts forecast that First American Financial Corp will post 4.49 EPS for the current fiscal year.

First American Financial Profile

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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