Invesco Ltd. Has $28.28 Million Stock Holdings in First American Financial Corporation $FAF

Key Points

• Invesco Ltd. has increased its holdings in First American Financial Corporation by 40.9%, acquiring an additional 124,975 shares, bringing its total ownership to approximately 430,908 shares valued at $28.28 million.
• First American Financial's quarterly earnings report revealed earnings per share of $1.53, exceeding analysts' expectations, with a revenue of $1.84 billion, representing a 14.2% year-over-year increase.
• The company has announced a share buyback plan permitting up to $300 million in repurchases, indicating management's confidence in the stock’s valuation.

Invesco Ltd. boosted its stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 40.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 430,908 shares of the insurance provider's stock after acquiring an additional 124,975 shares during the period. Invesco Ltd. owned 0.42% of First American Financial worth $28,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FAF. Raymond James Financial Inc. bought a new position in shares of First American Financial in the 4th quarter valued at $7,932,000. Barclays PLC increased its stake in shares of First American Financial by 61.1% in the 4th quarter. Barclays PLC now owns 98,006 shares of the insurance provider's stock valued at $6,118,000 after purchasing an additional 37,185 shares during the last quarter. Mariner LLC increased its stake in shares of First American Financial by 34.5% in the 4th quarter. Mariner LLC now owns 6,964 shares of the insurance provider's stock valued at $435,000 after purchasing an additional 1,788 shares during the last quarter. Jump Financial LLC increased its stake in shares of First American Financial by 120.4% in the 4th quarter. Jump Financial LLC now owns 11,269 shares of the insurance provider's stock valued at $704,000 after purchasing an additional 6,155 shares during the last quarter. Finally, Forum Financial Management LP bought a new position in shares of First American Financial in the 4th quarter valued at $235,000. Institutional investors own 89.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FAF shares. Barclays decreased their price target on First American Financial from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 8th. Wall Street Zen upgraded First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods boosted 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. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, First American Financial has an average rating of "Moderate Buy" and an average price target of $75.00.

First American Financial Stock Down 0.1%

FAF traded down $0.0470 during midday trading on Monday, hitting $66.4130. 358,153 shares of the company were exchanged, compared to its average volume of 651,199. The firm has a market capitalization of $6.76 billion, a P/E ratio of 36.69 and a beta of 1.24. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92. The firm's 50 day moving average price is $60.94 and its 200-day moving average price is $61.10.

First American Financial (NYSE:FAF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.40 by $0.13. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 EPS. On average, sell-side analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial declared that its Board of Directors has initiated a share 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 purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Margaret M. Mccarthy sold 3,500 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was 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 of the company's stock, valued at $1,843,874.85. The trade was a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by corporate 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.