FJ Capital Management LLC Acquires 7,513 Shares of First American Financial Corporation $FAF

Key Points

• FJ Capital Management LLC increased its stake in First American Financial Corporation by 11.7%, owning approximately 0.07% of the company, worth $4.69 million after purchasing 7,513 additional shares in the first quarter.
• Multiple large investors, including Boston Partners and Dimensional Fund Advisors, have also raised their stakes in First American Financial, contributing to institutional investors owning 89.05% of the company's stock.
• Wall Street analysts have shown optimism, with three analysts rating the stock as a Buy and a target price consensus of $75.00, alongside a recent stock performance indicating growth potential.

FJ Capital Management LLC increased its stake in First American Financial Corporation (NYSE:FAF - Free Report) by 11.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,490 shares of the insurance provider's stock after acquiring an additional 7,513 shares during the period. FJ Capital Management LLC owned about 0.07% of First American Financial worth $4,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in First American Financial in the first quarter worth $28,000. Richardson Capital Management LLC purchased a new position in First American Financial in the first quarter worth $39,000. Versant Capital Management Inc grew its position 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 worth $63,000 after acquiring an additional 833 shares in the last quarter. UMB Bank n.a. grew its position 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 acquiring an additional 692 shares in the last quarter. Finally, GAMMA Investing LLC grew its position 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 acquiring an additional 256 shares in the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the company'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 sale, the director owned 28,095 shares in the company, valued at approximately $1,843,874.85. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company's stock.

First American Financial Stock Up 1.1%

Shares of NYSE:FAF traded up $0.74 during midday trading on Wednesday, hitting $65.14. 424,163 shares of the stock traded hands, compared to its average volume of 520,360. The stock has a market capitalization of $6.63 billion, a PE ratio of 35.99 and a beta of 1.27. The business's 50 day moving average is $61.88 and its two-hundred day moving average is $61.25. First American Financial Corporation has a one year low of $53.09 and a one year high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.13. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $1.27 earnings per share. First American Financial's revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast 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 program on Wednesday, July 23rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

FAF has been the subject of several research reports. Keefe, Bruyette & Woods upped their target price on shares of 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 cut their price target on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of First American Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.