16,131 Shares in First American Financial Corporation $FAF Bought by Sciencast Management LP

Key Points

• Sciencast Management LP invested approximately $1.06 million in First American Financial Corporation by acquiring 16,131 shares in the first quarter.
• First American Financial's share repurchase plan authorizes the buyback of $300 million worth of stock, equivalent to 5.1% of its shares, signaling confidence in the company's valuation.
• Analysts maintain a consensus rating of "Moderate Buy" for the stock, with a target price of $75.00 following recent rating upgrades from various firms.

Sciencast Management LP acquired a new stake in shares of First American Financial Corporation (NYSE:FAF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,131 shares of the insurance provider's stock, valued at approximately $1,059,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in shares of First American Financial by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider's stock worth $19,233,000 after buying an additional 28,666 shares during the period. Knightsbridge Asset Management LLC raised its holdings in shares of First American Financial by 3.7% in the first quarter. Knightsbridge Asset Management LLC now owns 7,778 shares of the insurance provider's stock worth $510,000 after buying an additional 281 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of First American Financial by 121.3% in the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider's stock worth $97,000 after buying an additional 813 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of First American Financial in the first quarter worth approximately $932,000. Finally, Teza Capital Management LLC purchased a new stake in shares of First American Financial in the first quarter worth approximately $414,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at First American Financial

In other news, Director Margaret M. Mccarthy sold 3,500 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total transaction of $229,705.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company's stock.

First American Financial Price Performance

NYSE FAF traded down $0.46 during midday trading on Friday, hitting $67.57. 405,260 shares of the company traded hands, compared to its average volume of 592,927. The company has a market cap of $6.88 billion, a PE ratio of 37.33 and a beta of 1.27. The company's 50-day simple moving average is $62.56 and its 200-day simple moving average is $61.40. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.13. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. On average, research 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 approved a stock repurchase plan on Wednesday, July 23rd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the insurance provider to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

First American Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. This is a boost from First American Financial's previous quarterly dividend of $0.54. First American Financial's dividend payout ratio (DPR) is currently 121.55%.

Wall Street Analyst Weigh In

FAF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on First American Financial from $77.00 to $79.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wall Street Zen raised First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Barclays dropped their price objective 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. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company 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.