Advantage Alpha Capital Partners LP Has $5.32 Million Stake in First American Financial Corporation $FAF

Key Points

• Advantage Alpha Capital Partners LP increased its ownership in First American Financial Corporation by 14.2%, holding 81,010 shares valued at approximately $5.32 million.
• First American Financial's stock received a buy rating upgrade by Wall Street Zen, with a current average target price of $75.00.
• The company recently announced a $300 million share repurchase program, indicating confidence in the stock's value amidst its reported 14.2% quarterly revenue growth.

Advantage Alpha Capital Partners LP boosted its position in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,010 shares of the insurance provider's stock after acquiring an additional 10,044 shares during the quarter. First American Financial accounts for approximately 1.3% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 23rd biggest holding. Advantage Alpha Capital Partners LP owned approximately 0.08% of First American Financial worth $5,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in First American Financial during the first quarter worth $28,000. Richardson Capital Management LLC bought a new stake in First American Financial during the first quarter worth $39,000. Versant Capital Management Inc raised its position in First American Financial by 645.7% during the first quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock worth $63,000 after acquiring an additional 833 shares in the last quarter. UMB Bank n.a. raised its position in shares of First American Financial by 132.1% in the first quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock valued at $80,000 after purchasing an additional 692 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of First American Financial by 23.9% in the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock valued at $87,000 after purchasing an additional 256 shares during the period. 89.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FAF shares. Keefe, Bruyette & Woods increased their price objective on shares of First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Barclays dropped their price objective on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, First American Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

First American Financial Stock Performance

NYSE:FAF traded up $1.8260 during mid-day trading on Friday, reaching $66.4860. 584,107 shares of the company's stock were exchanged, compared to its average volume of 651,199. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92. The firm has a market capitalization of $6.77 billion, a PE ratio of 36.73 and a beta of 1.24. The business's fifty day simple moving average is $60.78 and its two-hundred day simple moving average is $61.08.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.13. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the firm earned $1.27 earnings per share. First American Financial's revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 23rd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Margaret M. Mccarthy sold 3,500 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total transaction of $229,705.00. Following the transaction, the director directly owned 28,095 shares of the company's stock, valued at approximately $1,843,874.85. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company's stock.

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.