First American Financial Corporation $FAF Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its holdings in First American Financial by 366.7%, owning 16,162 shares valued at approximately $1.06 million as of the latest report.
• First American Financial's board has authorized a $300 million stock repurchase plan, indicating that they believe their shares are undervalued.
• The company reported an EPS of $1.53 for the last quarter, surpassing analysts' expectations, and noted a 14.2% increase in revenue year-over-year.

AlphaQuest LLC lifted its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 366.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,162 shares of the insurance provider's stock after buying an additional 12,699 shares during the period. AlphaQuest LLC's holdings in First American Financial were worth $1,061,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in First American Financial in the first quarter valued at approximately $28,000. Richardson Capital Management LLC acquired a new position in First American Financial in the first quarter valued at approximately $39,000. Versant Capital Management Inc boosted its stake in First American Financial by 645.7% in the first 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 period. UMB Bank n.a. boosted 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 valued at $80,000 after acquiring an additional 692 shares during the period. Finally, GAMMA Investing LLC boosted 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 valued at $87,000 after acquiring an additional 256 shares during the period. Institutional investors own 89.05% of the company's stock.

Insider Buying and Selling

In related news, Director Margaret M. Mccarthy sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director directly owned 28,095 shares in the company, valued at $1,843,874.85. This trade represents a 11.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

First American Financial Price Performance

FAF opened at $66.4860 on Friday. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $70.92. The stock has a market cap of $6.77 billion, a P/E ratio of 36.73 and a beta of 1.24. The stock's 50 day moving average price is $60.78 and its 200 day moving average price is $61.10.

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 for the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the firm earned $1.27 EPS. The firm's revenue was up 14.2% compared to the same quarter last year. Equities analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial announced that its board has approved a stock repurchase plan on Wednesday, July 23rd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on FAF shares. Keefe, Bruyette & Woods lifted their target price on First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Barclays decreased their target price on 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. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, First American Financial currently has a consensus 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.

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