Profund Advisors LLC Invests $231,000 in First American Financial Co. (NYSE:FAF)

Posted by on Apr 26th, 2023

Profund Advisors LLC purchased a new stake in shares of First American Financial Co. (NYSE:FAF – Get Rating) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,411 shares of the insurance provider’s stock, valued at approximately $231,000.

Several other hedge funds also recently made changes to their positions in FAF. Fifth Third Bancorp boosted its holdings in First American Financial by 69.0% in the third quarter. Fifth Third Bancorp now owns 583 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of First American Financial in the second quarter worth $36,000. Armstrong Advisory Group Inc. purchased a new position in shares of First American Financial in the fourth quarter worth $36,000. Brown Brothers Harriman & Co. purchased a new position in shares of First American Financial in the first quarter worth $46,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of First American Financial by 44.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,371 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 424 shares during the last quarter. 84.45% of the stock is currently owned by institutional investors.

First American Financial Price Performance

Shares of FAF stock opened at $55.92 on Wednesday. The company has a market capitalization of $5.78 billion, a P/E ratio of 23.01 and a beta of 1.27. The company’s 50-day simple moving average is $55.75 and its two-hundred day simple moving average is $54.56. First American Financial Co. has a one year low of $43.54 and a one year high of $64.66.

First American Financial (NYSE:FAF – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.10). First American Financial had a net margin of 3.46% and a return on equity of 13.40%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business posted $2.28 earnings per share. First American Financial’s revenue for the quarter was down 29.0% on a year-over-year basis. On average, research analysts expect that First American Financial Co. will post 5.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com started coverage on First American Financial in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Stephens raised First American Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $65.00 to $72.00 in a research note on Friday, February 10th. Barclays decreased their target price on shares of First American Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, April 13th. Finally, TheStreet cut shares of First American Financial from a “b-” rating to a “c+” rating in a research report on Friday, March 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.80.

About First American Financial

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First American Financial Corp. engages in the provision of title insurance and settlement services to the real estate and mortgage industries. It also provides other financial services and risk solutions. It operates through the following segments: Title Insurance and Services, Specialty Insurance, and Corporate.

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

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