Northern Trust Corp Has $64.35 Million Position in First American Financial Co. (NYSE:FAF)

Northern Trust Corp lifted its holdings in First American Financial Co. (NYSE:FAF) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,030,622 shares of the insurance provider’s stock after purchasing an additional 53,513 shares during the period. Northern Trust Corp’s holdings in First American Financial were worth $64,352,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FAF. Bar Harbor Wealth Management boosted its position in shares of First American Financial by 43.6% in the fourth quarter. Bar Harbor Wealth Management now owns 96,627 shares of the insurance provider’s stock valued at $6,033,000 after acquiring an additional 29,324 shares during the period. Barclays PLC boosted its holdings in First American Financial by 15.2% in the 3rd quarter. Barclays PLC now owns 60,821 shares of the insurance provider’s stock valued at $4,016,000 after purchasing an additional 8,047 shares during the period. JPMorgan Chase & Co. grew its position in First American Financial by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,820 shares of the insurance provider’s stock worth $14,180,000 after purchasing an additional 10,489 shares during the last quarter. Oak Thistle LLC bought a new position in shares of First American Financial during the 4th quarter worth about $1,476,000. Finally, Merit Financial Group LLC acquired a new position in shares of First American Financial during the fourth quarter valued at about $453,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Insider Activity at First American Financial

In other news, Director Dennis J. Gilmore sold 111,971 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the completion of the sale, the director now owns 494,574 shares of the company’s stock, valued at approximately $31,454,906.40. This trade represents a 18.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Edward Seaton sold 12,679 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $64.28, for a total value of $815,006.12. Following the completion of the transaction, the chief financial officer now directly owns 195,812 shares in the company, valued at $12,586,795.36. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,707 shares of company stock valued at $8,136,565 in the last ninety days. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stephens lifted their target price on First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Barclays boosted their price objective on First American Financial from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. StockNews.com lowered First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

First American Financial Trading Down 0.4 %

Shares of FAF opened at $61.31 on Wednesday. The stock has a market cap of $6.31 billion, a PE ratio of 49.04 and a beta of 1.29. First American Financial Co. has a 1 year low of $51.85 and a 1 year high of $70.92. The stock has a 50 day simple moving average of $62.47 and a 200-day simple moving average of $63.49.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.19. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that First American Financial Co. will post 5.35 EPS for the current fiscal year.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.