ING Groep NV bought a new position in shares of First American Corporation (The) (NYSE:FAF) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,416 shares of the insurance provider’s stock, valued at approximately $600,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Quadrature Capital Ltd raised its stake in First American Corporation (The) by 77.9% in the fourth quarter. Quadrature Capital Ltd now owns 30,980 shares of the insurance provider’s stock worth $1,135,000 after buying an additional 13,566 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in First American Corporation (The) by 2.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 96,126 shares of the insurance provider’s stock worth $3,521,000 after buying an additional 1,996 shares during the last quarter. Teachers Advisors LLC raised its stake in First American Corporation (The) by 23.3% in the fourth quarter. Teachers Advisors LLC now owns 197,099 shares of the insurance provider’s stock worth $7,220,000 after buying an additional 37,301 shares during the last quarter. Gradient Investments LLC raised its stake in First American Corporation (The) by 14.0% in the first quarter. Gradient Investments LLC now owns 152,260 shares of the insurance provider’s stock worth $5,981,000 after buying an additional 18,745 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in First American Corporation (The) by 2.2% in the first quarter. Capstone Asset Management Co. now owns 13,698 shares of the insurance provider’s stock worth $538,000 after buying an additional 290 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.
Shares of First American Corporation (NYSE FAF) traded down 0.29% during mid-day trading on Friday, hitting $48.62. The company had a trading volume of 145,747 shares. The firm’s 50-day moving average price is $45.47 and its 200 day moving average price is $41.35. The company has a market capitalization of $5.38 billion, a P/E ratio of 14.74 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.
First American Corporation (The) (NYSE:FAF) last issued its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, topping 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 firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts predict that First American Corporation will post $3.46 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on FAF shares. Zacks Investment Research upgraded First American Corporation (The) from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $39.00 price objective on shares of First American Corporation (The) in a report on Wednesday, April 19th. Finally, BidaskClub upgraded First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th.
First American Corporation (The) Company Profile
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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