First American Corporation (The) (FAF) Stake Lowered by Sapphire Star Partners LP

Sapphire Star Partners LP cut its stake in First American Corporation (The) (NYSE:FAF) by 25.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,352 shares of the insurance provider’s stock after selling 2,816 shares during the quarter. Sapphire Star Partners LP’s holdings in First American Corporation (The) were worth $418,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Creative Planning increased its stake in First American Corporation (The) by 5.3% during the 2nd quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 114 shares in the last quarter. First Bank & Trust increased its stake in First American Corporation (The) by 46.6% during the 2nd quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 833 shares in the last quarter. Acrospire Investment Management LLC increased its stake in First American Corporation (The) by 352.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock worth $120,000 after purchasing an additional 2,100 shares in the last quarter. Quantbot Technologies LP increased its stake in First American Corporation (The) by 78.1% during the 2nd quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock worth $136,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First American Corporation (The) by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock worth $170,000 after purchasing an additional 298 shares in the last quarter. 83.92% of the stock is owned by institutional investors.

In related news, CFO Mark Edward Seaton sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $48.33, for a total transaction of $338,310.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.10% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.com-unik.info/2017/11/05/first-american-corporation-the-faf-stake-lowered-by-sapphire-star-partners-lp.html.

First American Corporation (FAF) traded up $0.43 during midday trading on Friday, reaching $54.68. The company had a trading volume of 369,770 shares, compared to its average volume of 652,706. The company has a market cap of $6,059.47, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.74. First American Corporation has a twelve month low of $35.28 and a twelve month high of $55.00.

First American Corporation (The) (NYSE:FAF) last posted its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.00 by $0.12. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. First American Corporation (The) had a net margin of 4.88% and a return on equity of 14.30%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. analysts anticipate that First American Corporation will post 3.52 EPS for the current fiscal year.

A number of analysts recently issued reports on FAF shares. Zacks Investment Research cut First American Corporation (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Barclays PLC increased their target price on First American Corporation (The) from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th.

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.

Want to see what other hedge funds are holding FAF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First American Corporation (The) (NYSE:FAF).

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

What are top analysts saying about First American Corporation (The)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for First American Corporation (The) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit