Vaughan Nelson Investment Management L.P. Sells 781,325 Shares of First American Corporation (The) (FAF)

Vaughan Nelson Investment Management L.P. reduced its position in shares of First American Corporation (The) (NYSE:FAF) by 20.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,000,429 shares of the insurance provider’s stock after selling 781,325 shares during the period. First American Corporation (The) accounts for about 1.6% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 3rd largest position. Vaughan Nelson Investment Management L.P. owned 2.71% of First American Corporation (The) worth $134,090,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its position in shares of First American Corporation (The) by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 40,117 shares of the insurance provider’s stock worth $1,793,000 after buying an additional 1,749 shares during the period. Eqis Capital Management Inc. boosted its position in shares of First American Corporation (The) by 435.9% in the second quarter. Eqis Capital Management Inc. now owns 42,955 shares of the insurance provider’s stock worth $1,920,000 after buying an additional 34,940 shares during the period. Meeder Asset Management Inc. bought a new position in shares of First American Corporation (The) during the second quarter worth about $618,000. Fisher Asset Management LLC boosted its position in shares of First American Corporation (The) by 5.1% in the second quarter. Fisher Asset Management LLC now owns 1,479,732 shares of the insurance provider’s stock worth $66,129,000 after buying an additional 71,581 shares during the period. Finally, Creative Planning boosted its position in shares of First American Corporation (The) by 5.3% in the second quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 84.23% of the company’s stock.

Shares of First American Corporation (FAF) traded down 0.27% on Friday, hitting $47.73. 582,885 shares of the stock were exchanged. The company has a market cap of $5.28 billion, a P/E ratio of 14.47 and a beta of 0.73. First American Corporation has a one year low of $35.28 and a one year high of $49.48. The firm’s 50-day moving average is $46.26 and its 200-day moving average is $41.81.

First American Corporation (The) (NYSE:FAF) last released its earnings results on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $0.91 by $0.18. First American Corporation (The) had a net margin of 6.38% and a return on equity of 12.22%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that First American Corporation will post $3.46 EPS for the current fiscal year.

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A number of research analysts have issued reports on FAF shares. Zacks Investment Research raised shares of First American Corporation (The) from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Monday, May 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $39.00 target price on shares of First American Corporation (The) in a report on Wednesday, April 19th. Finally, BidaskClub raised shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th.

About First American Corporation (The)

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.

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

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