Jump Financial LLC Acquires 23,875 Shares of First American Financial Corporation $FAF

Key Points

• Jump Financial LLC significantly increased its stake in First American Financial Corporation by 211.9%, bringing its total holdings to 35,144 shares valued at approximately $2.3 million.
• Multiple institutional investors also boosted their positions, with hedge funds now owning 89.05% of the company's stock, reflecting strong confidence in First American Financial.
• The company announced a $300 million stock buyback plan, indicating that its board believes the shares are currently undervalued.

Jump Financial LLC lifted its stake in First American Financial Corporation (NYSE:FAF - Free Report) by 211.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,144 shares of the insurance provider's stock after acquiring an additional 23,875 shares during the period. Jump Financial LLC's holdings in First American Financial were worth $2,306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in First American Financial in the 1st quarter valued at $28,000. Richardson Capital Management LLC acquired a new position in shares of First American Financial during the first quarter valued at about $39,000. Versant Capital Management Inc raised its position in shares of First American Financial by 645.7% during the first quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock valued at $63,000 after buying an additional 833 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of 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 buying an additional 692 shares during the period. Finally, GAMMA Investing LLC grew 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 buying an additional 256 shares in the last quarter. Institutional investors own 89.05% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on FAF shares. Barclays cut their price target on First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price objective 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 upgraded First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

Insider Buying and Selling

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.63, for a total value of $229,705.00. Following 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by company insiders.

First American Financial Stock Up 0.9%

NYSE:FAF traded up $0.62 during trading hours on Friday, reaching $66.04. The company had a trading volume of 471,740 shares, compared to its average volume of 575,307. The stock has a 50-day moving average of $61.58 and a two-hundred day moving average of $61.19. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92. The firm has a market capitalization of $6.72 billion, a PE ratio of 36.49 and a beta of 1.24.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the business earned $1.27 earnings per share. The business's revenue was up 14.2% on a year-over-year basis. As a group, sell-side 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 of Directors has approved a stock repurchase 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 repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

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.