Blueshift Asset Management LLC Takes Position in First American Financial Corporation (NYSE:FAF)

Key Points

• Blueshift Asset Management LLC has invested $344,000 in First American Financial Corporation by acquiring 5,238 shares, according to a recent 13F filing.
• The company reported a quarterly earnings per share (EPS) of $1.53, surpassing analysts' expectations by $0.13 and demonstrating a 14.2% increase in year-over-year revenue.
• First American Financial has initiated a $300 million share buyback plan, indicating management's belief that the stock is undervalued.

Blueshift Asset Management LLC acquired a new stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,238 shares of the insurance provider's stock, valued at approximately $344,000.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its position in shares of First American Financial by 20.8% during the 4th quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock worth $377,559,000 after purchasing an additional 1,042,145 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of First American Financial by 500.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider's stock worth $62,646,000 after acquiring an additional 836,314 shares during the last quarter. Capital International Investors acquired a new position in First American Financial in the 4th quarter valued at $41,626,000. Ariel Investments LLC grew its holdings in First American Financial by 9.9% in the 4th quarter. Ariel Investments LLC now owns 3,993,155 shares of the insurance provider's stock valued at $249,333,000 after buying an additional 359,777 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in First American Financial in the 4th quarter valued at $19,377,000. Institutional investors own 89.05% of the company's stock.

First American Financial Stock Down 0.7%

First American Financial stock traded down $0.46 during trading hours on Thursday, hitting $62.20. The stock had a trading volume of 38,454 shares, compared to its average volume of 916,035. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 34.32 and a beta of 1.24. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92. The business's 50 day simple moving average is $58.91 and its 200-day simple moving average is $60.97.

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

First American Financial declared that its board has authorized a stock buyback program on Wednesday, July 23rd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.54 per share. The ex-dividend date was Monday, June 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.5%. First American Financial's payout ratio is currently 119.34%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays decreased their price objective on 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. Keefe, Bruyette & Woods upped their target price on First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Wall Street Zen downgraded First American Financial from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, First American Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

First American Financial Company 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.