Parametric Portfolio Associates LLC Grows Stake in First American Corporation (The) (NYSE:FAF)

Parametric Portfolio Associates LLC lifted its position in First American Corporation (The) (NYSE:FAF) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,080 shares of the insurance provider’s stock after purchasing an additional 8,728 shares during the period. Parametric Portfolio Associates LLC owned about 0.14% of First American Corporation (The) worth $7,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in FAF. Creative Planning increased its stake in shares of First American Corporation (The) by 5.3% in the second quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 114 shares in the last quarter. First Bank & Trust increased its stake in shares of First American Corporation (The) by 46.6% in the second quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 833 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of First American Corporation (The) by 352.3% in the second quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock worth $120,000 after purchasing an additional 2,100 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of First American Corporation (The) by 78.1% in the second quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock worth $136,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First American Corporation (The) by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock worth $170,000 after purchasing an additional 298 shares in the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on FAF. Barclays PLC increased their price objective on shares of First American Corporation (The) from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday. Zacks Investment Research cut shares of First American Corporation (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th.

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First American Corporation (FAF) opened at 53.36 on Friday. The company’s 50 day moving average is $49.65 and its 200-day moving average is $45.95. First American Corporation has a 12 month low of $35.28 and a 12 month high of $53.46. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 16.17 and a beta of 0.69.

First American Corporation (The) (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.00 by $0.12. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. First American Corporation (The) had a net margin of 4.88% and a return on equity of 14.30%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. On average, analysts expect that First American Corporation will post $3.38 earnings per share for the current fiscal year.

In related news, CFO Mark Edward Seaton sold 7,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $48.33, for a total value of $338,310.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.

First American Corporation (The) Company Profile

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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