Dynamic Technology Lab Private Ltd Invests $932,000 in First American Financial Corporation $FAF

Key Points

• Dynamic Technology Lab Private Ltd acquired 14,200 shares of First American Financial, raising their investment to approximately $932,000.
• First American Financial reported $1.53 earnings per share for the last quarter, exceeding analysts' estimates and showing a 14.2% revenue increase year-over-year.
• The company announced a $300 million share repurchase program, allowing it to buy back up to 5.1% of its shares, indicating management's belief in the stock's undervaluation.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,200 shares of the insurance provider's stock, valued at approximately $932,000.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of First American Financial in the 1st quarter valued at about $28,000. Richardson Capital Management LLC bought a new position in shares of First American Financial in the 1st quarter valued at about $39,000. Versant Capital Management Inc lifted its holdings in shares of First American Financial by 645.7% in the 1st quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock valued at $63,000 after acquiring an additional 833 shares during the last quarter. UMB Bank n.a. lifted its stake in 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 worth $80,000 after purchasing an additional 692 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in First American Financial by 23.9% in the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock worth $87,000 after purchasing an additional 256 shares during the last quarter. Institutional investors own 89.05% of the company's stock.

Insider Transactions at First American Financial

In related news, Director Margaret M. Mccarthy sold 3,500 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total transaction of $229,705.00. Following the completion of the transaction, the director directly owned 28,095 shares in the company, valued at $1,843,874.85. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

First American Financial Trading Down 0.7%

Shares of NYSE:FAF traded down $0.46 on Friday, hitting $67.57. 405,260 shares of the company were exchanged, compared to its average volume of 592,927. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92. The stock's 50 day moving average price is $62.56 and its 200 day moving average price is $61.40. The firm has a market capitalization of $6.88 billion, a P/E ratio of 37.33 and a beta of 1.27.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.40 by $0.13. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 earnings per share. On average, equities analysts predict 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 share repurchase plan on Wednesday, July 23rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be given a dividend of $0.55 per share. This is a boost from First American Financial's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, September 22nd. First American Financial's payout ratio is presently 121.55%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FAF shares. Barclays decreased their price objective on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $77.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, First American Financial presently has an average rating of "Moderate Buy" and an average target price 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.