Pictet Asset Management Holding SA Boosts Stock Holdings in First American Financial Corporation $FAF

Pictet Asset Management Holding SA lifted its holdings in First American Financial Corporation (NYSE:FAF) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 364,492 shares of the insurance provider’s stock after purchasing an additional 8,208 shares during the period. Pictet Asset Management Holding SA owned about 0.36% of First American Financial worth $22,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FAF. V Square Quantitative Management LLC purchased a new position in First American Financial during the fourth quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its holdings in First American Financial by 2,887.5% during the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after buying an additional 462 shares during the period. First Horizon Corp purchased a new stake in First American Financial during the third quarter worth $37,000. Danske Bank A S bought a new stake in First American Financial during the 3rd quarter valued at $45,000. Finally, Advisory Services Network LLC bought a new stake in First American Financial during the 3rd quarter valued at $52,000. 89.05% of the stock is currently owned by institutional investors.

First American Financial Trading Down 1.4%

Shares of FAF stock opened at $70.10 on Friday. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $71.47. The business’s fifty day simple moving average is $64.58 and its 200-day simple moving average is $63.67. The company has a market cap of $7.14 billion, a PE ratio of 10.77, a PEG ratio of 0.69 and a beta of 1.28.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 16.2% on a year-over-year basis. On average, equities analysts forecast that First American Financial Corporation will post 6.72 earnings per share for the current year.

Insider Activity

In other First American Financial news, Director Parker S. Kennedy purchased 44,841 shares of the stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares in the company, valued at $17,067,803.20. The trade was a 21.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $70.59, for a total value of $468,011.70. Following the sale, the director owned 24,024 shares in the company, valued at $1,695,854.16. The trade was a 21.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FAF has been the subject of several recent research reports. Weiss Ratings raised First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Stephens raised their price objective on First American Financial from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Research upgraded First American Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday. Truist Financial boosted their target price on shares of First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Barclays increased their price target on shares of First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat.com, First American Financial has a consensus rating of “Buy” and a consensus target price of $82.50.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.