Invesco Ltd. Buys 56,493 Shares of First American Financial Co. (NYSE:FAF)

Invesco Ltd. raised its holdings in shares of First American Financial Co. (NYSE:FAF - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,933 shares of the insurance provider's stock after acquiring an additional 56,493 shares during the quarter. Invesco Ltd. owned approximately 0.30% of First American Financial worth $19,102,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its position in First American Financial by 66.9% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 210 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of First American Financial by 57.6% during the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 245 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of First American Financial by 34.9% during the 4th quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider's stock valued at $67,000 after acquiring an additional 277 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of First American Financial by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider's stock worth $84,000 after acquiring an additional 173 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of First American Financial by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider's stock worth $94,000 after acquiring an additional 230 shares in the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FAF. Keefe, Bruyette & Woods upgraded First American Financial from a "market perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research note on Tuesday, April 8th. Stephens boosted their price target on First American Financial from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, February 14th.

First American Financial Price Performance

NYSE:FAF traded up $2.96 during trading hours on Thursday, reaching $62.66. The company's stock had a trading volume of 334,966 shares, compared to its average volume of 658,794. First American Financial Co. has a one year low of $51.60 and a one year high of $70.92. The business's 50-day moving average is $62.98 and its 200-day moving average is $63.75. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 49.94 and a beta of 1.23.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. On average, sell-side analysts predict that First American Financial Co. will post 5.35 EPS for the current fiscal year.

Insider Transactions at First American Financial

In other news, Director Dennis J. Gilmore sold 111,971 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $63.60, for a total value of $7,121,355.60. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Lisa W. Cornehl sold 3,057 shares of First American Financial stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total value of $200,202.93. Following the completion of the transaction, the senior vice president now owns 23,825 shares in the company, valued at $1,560,299.25. The trade was a 11.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,707 shares of company stock worth $8,136,565. 3.70% of the stock is owned by insiders.

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.