Invst LLC Acquires Shares of 11,595 First American Financial Corporation $FAF

Key Points

• Invst LLC has invested approximately $761,000 in First American Financial Corporation by purchasing 11,595 shares during the first quarter.
• First American Financial recently reported earnings of $1.53 per share, surpassing expectations, with quarterly revenue of $1.84 billion, a 14.2% increase from the previous year.
• The company announced a quarterly dividend increase to $0.55 per share, reflecting a yield of 3.3%, while also initiating a stock repurchase program worth $300 million.

Invst LLC purchased a new stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,595 shares of the insurance provider's stock, valued at approximately $761,000.

Other hedge funds have also recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of First American Financial during the 1st quarter worth approximately $2,647,000. WBI Investments LLC bought a new position in shares of First American Financial in the first quarter valued at $2,504,000. Focus Partners Wealth increased its holdings in First American Financial by 11.3% during the first quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider's stock worth $281,000 after buying an additional 435 shares during the last quarter. Ransom Advisory Ltd acquired a new position in First American Financial during the first quarter worth $66,000. Finally, Jane Street Group LLC raised its position in First American Financial by 182.5% during the first quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider's stock worth $4,435,000 after acquiring an additional 43,651 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

First American Financial Stock Performance

FAF traded down $0.84 on Monday, reaching $66.67. The company had a trading volume of 477,273 shares, compared to its average volume of 571,717. The stock has a market cap of $6.79 billion, a P/E ratio of 36.83 and a beta of 1.26. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92. The company's fifty day moving average is $62.65 and its 200 day moving average is $61.36.

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 net margin of 2.90% and a return on equity of 10.41%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business posted $1.27 earnings per share. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. On average, sell-side analysts expect that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial announced that its Board of Directors has initiated a share buyback plan on Wednesday, July 23rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be paid a $0.55 dividend. This is a boost from First American Financial's previous quarterly dividend of $0.54. The ex-dividend date is Monday, September 22nd. This represents a $2.20 annualized dividend and a yield of 3.3%. First American Financial's dividend payout ratio is presently 119.34%.

Insider Buying and Selling

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the company's stock in a transaction on 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. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FAF has been the subject of a number of analyst reports. 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. Barclays cut their target price on shares of First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price target 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, First American Financial presently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

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.