1,123,224 Shares in First American Financial Corp (FAF) Acquired by Norges Bank

Norges Bank acquired a new position in First American Financial Corp (NYSE:FAF) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,123,224 shares of the insurance provider’s stock, valued at approximately $41,144,000. Norges Bank owned 1.02% of First American Financial Corp as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of First American Financial Corp by 4.7% in the third quarter. BlackRock Fund Advisors now owns 3,943,678 shares of the insurance provider’s stock worth $154,908,000 after buying an additional 175,782 shares during the last quarter. State Street Corp raised its stake in shares of First American Financial Corp by 3.1% in the fourth quarter. State Street Corp now owns 3,414,898 shares of the insurance provider’s stock worth $125,095,000 after buying an additional 103,030 shares during the last quarter. Northern Trust Corp raised its stake in shares of First American Financial Corp by 0.3% in the third quarter. Northern Trust Corp now owns 2,461,444 shares of the insurance provider’s stock worth $96,686,000 after buying an additional 7,385 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of First American Financial Corp by 13.1% in the third quarter. Bank of New York Mellon Corp now owns 2,100,748 shares of the insurance provider’s stock worth $82,518,000 after buying an additional 242,553 shares during the last quarter. Finally, Allianz Asset Management AG raised its stake in shares of First American Financial Corp by 23.7% in the fourth quarter. Allianz Asset Management AG now owns 1,390,076 shares of the insurance provider’s stock worth $50,919,000 after buying an additional 266,452 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

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

Shares of First American Financial Corp (NYSE:FAF) traded up 0.53% on Friday, hitting $39.52. 497,362 shares of the stock were exchanged. First American Financial Corp has a 1-year low of $35.28 and a 1-year high of $43.55. The stock’s 50-day moving average is $38.51 and its 200-day moving average is $38.32. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 12.79 and a beta of 0.80.

First American Financial Corp (NYSE:FAF) last announced its quarterly earnings data on Thursday, February 9th. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.10. The company earned $1.50 billion during the quarter, compared to the consensus estimate of $1.42 billion. First American Financial Corp had a return on equity of 12.08% and a net margin of 6.15%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. Analysts forecast that First American Financial Corp will post $2.98 earnings per share for the current year.

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A number of research analysts recently weighed in on FAF shares. Zacks Investment Research downgraded shares of First American Financial Corp from a “buy” rating to a “hold” rating in a research report on Monday, December 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $39.00 target price on shares of First American Financial Corp in a research report on Wednesday.

In related news, CEO Dennis J. Gilmore sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $39.79, for a total transaction of $3,979,000.00. Following the completion of the transaction, the chief executive officer now directly owns 772,295 shares in the company, valued at approximately $30,729,618.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

About First American Financial Corp

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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