Victory Capital Management Inc. Lowers Stock Position in First American Financial Co. (NYSE:FAF)

Victory Capital Management Inc. cut its holdings in First American Financial Co. (NYSE:FAF) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,995,971 shares of the insurance provider’s stock after selling 139,178 shares during the quarter. Victory Capital Management Inc. owned approximately 1.93% of First American Financial worth $128,620,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FAF. Bar Harbor Wealth Management bought a new position in shares of First American Financial during the fourth quarter valued at approximately $2,673,000. Neo Ivy Capital Management increased its position in First American Financial by 119.2% during the 3rd quarter. Neo Ivy Capital Management now owns 56,392 shares of the insurance provider’s stock valued at $3,186,000 after buying an additional 30,664 shares in the last quarter. Duality Advisers LP purchased a new position in First American Financial during the fourth quarter valued at $1,563,000. Qube Research & Technologies Ltd bought a new stake in First American Financial in the third quarter worth $3,988,000. Finally, Boston Partners boosted its holdings in First American Financial by 17.6% in the third quarter. Boston Partners now owns 3,169,320 shares of the insurance provider’s stock worth $178,994,000 after acquiring an additional 473,961 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

First American Financial Price Performance

NYSE FAF opened at $53.20 on Thursday. First American Financial Co. has a 1-year low of $49.55 and a 1-year high of $65.54. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 25.45 and a beta of 1.28. The business’s fifty day moving average price is $57.23 and its 200-day moving average price is $58.31.

First American Financial (NYSE:FAF) last announced its earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.22). First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts anticipate that First American Financial Co. will post 4.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FAF. Keefe, Bruyette & Woods raised First American Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $66.00 to $69.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of First American Financial in a research report on Wednesday, January 10th. They set a “buy” rating for the company. Stephens reiterated an “overweight” rating and set a $72.00 target price on shares of First American Financial in a research note on Thursday, April 25th. Finally, TheStreet cut First American Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.75.

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.