First American Financial Corporation ( FAF Quick Quote FAF - Free Report) recently acquired Georgetown Title. Post-acquisition, Georgetown Title will be part of the direct operations of First American Title Insurance Company, the largest subsidiary of First American. Founded in 1893, Georgetown Title is the premier land-title company and is located in Georgetown and Round Rock. It is focused on offering invaluable title research and data, since its inception. It provides title insurance and settlement services to Williamson County and Central Texas. The transaction is expected to fortify First American Title Insurance Company’s presence in Williamson County and better serve customers with added services and resources. As far as Georgetown Title is concerned, its customers will be able to access the cutting-edge resources and leverage the technology of the largest title and settlement provider, First American Financial. In line with its strategic initiatives, First American actively pursues acquisitions to boost and expand its core business. In October 2020, it inked a deal to acquire ServiceMac whose mortgage subservicing business is likely to enable First American to provide enhanced end-to-end mortgage, settlement, post-closing services and servicing-related products and solutions. Other notable acquisitions made by the title insurer include Docutech and the full acquisition of Title Security Agency in March 2020. The title insurer also pursued small title agency buyouts in the regions that it identifies as growth markets. It also continues to make significant investments in technology across all its major businesses to enhance customer experience through digital solutions. Therefore, this buyout is likely to bolster and expand the insurer’s title insurance business and settlement and escrow services, which in turn contribute to the top-line growth of the company. Shares of this provider of title insurance, settlement services and risk solutions have gained 22.2% year to date, outperforming the industry’s increase of 16.5%. Moreover, the company’s policy of ramping up growth and capital position should continue to drive share price higher. Image Source: Zacks Investment Research
The company presently carries a Zacks Rank #4 (Sell).
You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Other Acquisitions in the Same Space
There have been a host of acquisitions in the insurance space of late, given its significant capital availability. In the second quarter of 2021,
Brown & Brown, Inc. ( BRO Quick Quote BRO - Free Report) acquired substantially all Piper Jordan assets. Further, Marsh & McLennan Companies, Inc.’s ( MMC Quick Quote MMC - Free Report) unit Marsh & McLennan Agency LLC (MMA) recently purchased PayneWest Insurance, one of the largest independent agencies in the United States. Additionally, Alleghany Corporation’s ( Y Quick Quote Y - Free Report) wholly-owned subsidiary Alleghany Capital Corporation took over Wilbert, Inc. (WPS). Zacks' Top Picks to Cash in on Artificial Intelligence
In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.
See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>