First American Financial Corporation (NYSE:FAF) Shares Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP significantly increased its stake in First American Financial by 159.1% during the first quarter, owning 24,614 shares valued at $1,615,000.
• Analysts have mixed views on the stock, with Barclays lowering its price target from $72 to $70 and Wall Street Zen upgrading it to a "buy," resulting in a current average target price of $75.00.
• First American Financial announced a dividend of $0.54 per share and approved a $300 million stock buyback program, indicating confidence in the company's valuation.

Entropy Technologies LP raised its stake in First American Financial Corporation (NYSE:FAF - Free Report) by 159.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,614 shares of the insurance provider's stock after buying an additional 15,114 shares during the quarter. Entropy Technologies LP's holdings in First American Financial were worth $1,615,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Alpine Bank Wealth Management acquired a new position in First American Financial during the 1st quarter worth about $28,000. Richardson Capital Management LLC purchased a new stake in First American Financial during the first quarter worth about $39,000. Versant Capital Management Inc lifted 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 worth $63,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 692 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 256 shares during the period. Hedge funds and other institutional investors own 89.05% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on First American Financial from $77.00 to $79.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Barclays reduced their target price on shares of 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. Finally, Wall Street Zen raised shares of First American Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, First American Financial currently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

First American Financial Stock Performance

First American Financial stock traded down $0.28 during midday trading on Thursday, reaching $65.81. The company's stock had a trading volume of 564,285 shares, compared to its average volume of 909,749. The firm has a market capitalization of $6.70 billion, a PE ratio of 36.36 and a beta of 1.24. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92. The stock's 50 day simple moving average is $59.74 and its 200 day simple moving average is $61.04.

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, topping 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 analysts' expectations of $1.78 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. First American Financial's revenue was up 14.2% on a year-over-year basis. Equities analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

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

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.