First American Financial Corporation $FAF Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its holdings in First American Financial Corporation by 91.1% during the first quarter, owning 52,637 shares valued at approximately $3.46 million.
• First American Financial reported earnings per share of $1.53 for the last quarter, exceeding analysts' expectations, with revenue rising 14.2% year-over-year.
• The company announced a $300 million share repurchase program, indicating management's belief that their stock is undervalued.

Ieq Capital LLC lifted its stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 91.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,637 shares of the insurance provider's stock after buying an additional 25,093 shares during the period. Ieq Capital LLC owned about 0.05% of First American Financial worth $3,455,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in First American Financial during the 1st quarter valued at about $28,000. Richardson Capital Management LLC purchased a new position in shares of First American Financial in the first quarter valued at about $39,000. Versant Capital Management Inc increased its stake 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 during the last quarter. UMB Bank n.a. increased its stake in First American Financial by 132.1% during the first quarter. UMB Bank n.a. now owns 1,216 shares of the insurance provider's stock worth $80,000 after acquiring an additional 692 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of First American Financial by 23.9% during the first quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock valued at $87,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company's stock.

First American Financial Stock Up 1.1%

NYSE FAF traded up $0.74 during trading hours on Wednesday, hitting $65.14. 424,163 shares of the stock were exchanged, compared to its average volume of 880,041. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 35.99 and a beta of 1.27. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $70.92. The stock has a 50-day moving average of $61.77 and a 200 day moving average of $61.22.

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, beating the consensus estimate of $1.40 by $0.13. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The company's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 earnings per share. On average, equities research analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial declared that its board has initiated a share repurchase plan on Wednesday, July 23rd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

FAF has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Barclays lowered 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. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Transactions at First American Financial

In related news, Director Margaret M. Mccarthy sold 3,500 shares of First American Financial 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 sale, the director owned 28,095 shares of the company's stock, valued at $1,843,874.85. The trade was a 11.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is owned by company insiders.

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.