Allspring Global Investments Holdings LLC Trims Position in First American Financial Co. (NYSE:FAF)

Allspring Global Investments Holdings LLC decreased its position in shares of First American Financial Co. (NYSE:FAF) by 5.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 276,973 shares of the insurance provider’s stock after selling 16,818 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.27% of First American Financial worth $14,943,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of First American Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock valued at $630,000 after acquiring an additional 193 shares in the last quarter. Blossom Wealth Management lifted its holdings in First American Financial by 2.9% in the 2nd quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 195 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in First American Financial by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 228 shares during the period. Bessemer Group Inc. grew its holdings in First American Financial by 4.9% during the 1st quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after buying an additional 234 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after buying an additional 257 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays cut their target price on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods lifted their target price on First American Financial from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Stephens reiterated an “overweight” rating and issued a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Finally, Truist Financial lifted their price objective on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

First American Financial Trading Up 0.6 %

FAF opened at $63.25 on Friday. First American Financial Co. has a 12 month low of $49.55 and a 12 month high of $65.54. The stock has a 50-day moving average of $58.22 and a 200 day moving average of $57.07. The firm has a market cap of $6.56 billion, a P/E ratio of 30.26 and a beta of 1.28.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.14. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS. On average, research analysts forecast that First American Financial Co. will post 3.88 earnings per share 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.