Lecap Asset Management Ltd. Has $260,000 Stake in First American Financial Co. (NYSE:FAF)

Lecap Asset Management Ltd. reduced its holdings in shares of First American Financial Co. (NYSE:FAF) by 78.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,819 shares of the insurance provider’s stock after selling 17,498 shares during the period. Lecap Asset Management Ltd.’s holdings in First American Financial were worth $260,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Pallas Capital Advisors LLC bought a new stake in First American Financial in the second quarter worth approximately $259,000. Blossom Wealth Management increased its stake in shares of First American Financial by 2.9% in the 2nd quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock valued at $374,000 after acquiring an additional 195 shares in the last quarter. Leeward Investments LLC MA lifted its position in shares of First American Financial by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 231,715 shares of the insurance provider’s stock valued at $12,501,000 after acquiring an additional 12,198 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in First American Financial by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,426,821 shares of the insurance provider’s stock worth $76,977,000 after acquiring an additional 86,330 shares in the last quarter. Finally, Reinhart Partners LLC. grew its holdings in First American Financial by 65.8% in the second quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock worth $50,916,000 after purchasing an additional 374,662 shares during the period. 89.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FAF has been the subject of a number of research analyst reports. Truist Financial boosted their target price on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on shares of First American Financial from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Stephens reissued an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Finally, Barclays cut their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.25.

First American Financial Stock Performance

NYSE:FAF traded down $0.10 during trading hours on Thursday, reaching $62.15. The stock had a trading volume of 45,295 shares, compared to its average volume of 655,231. 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 simple moving average of $57.03 and a 200 day simple moving average of $56.89. The stock has a market cap of $6.45 billion, a P/E ratio of 29.75 and a beta of 1.28.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.35 EPS. On average, equities analysts expect 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.