Bayforest Capital Ltd Takes $721,000 Position in First American Financial Corporation (NYSE:FAF)

Bayforest Capital Ltd bought a new stake in First American Financial Corporation (NYSE:FAF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,980 shares of the insurance provider's stock, valued at approximately $721,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its position in 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 during the last quarter. The Manufacturers Life Insurance Company boosted its position in First American Financial by 0.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 84,344 shares of the insurance provider's stock worth $5,266,000 after acquiring an additional 230 shares during the last quarter. Townsquare Capital LLC boosted its position in First American Financial by 2.6% during the fourth quarter. Townsquare Capital LLC now owns 9,992 shares of the insurance provider's stock worth $624,000 after acquiring an additional 251 shares during the last quarter. GAMMA Investing LLC boosted its position in First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock worth $87,000 after acquiring an additional 256 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in First American Financial by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,932 shares of the insurance provider's stock worth $2,743,000 after acquiring an additional 270 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Trading Up 0.9%

FAF traded up $0.55 during trading hours on Friday, hitting $60.60. 870,170 shares of the company's stock were exchanged, compared to its average volume of 1,622,936. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $70.92. The firm has a 50 day moving average of $58.46 and a 200 day moving average of $60.96. The firm has a market cap of $6.17 billion, a P/E ratio of 33.48 and a beta of 1.24.

First American Financial (NYSE:FAF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $1.27 EPS. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, research analysts expect that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.54 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. First American Financial's dividend payout ratio is currently 119.34%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FAF. Barclays decreased their target price on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 8th. Wall Street Zen lowered shares of First American Financial from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, First American Financial presently has an average rating of "Moderate Buy" and an average price target of $75.00.

First American Financial Profile

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.