30,963 Shares in First American Financial Corporation (NYSE:FAF) Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired a new position in First American Financial Corporation (NYSE:FAF), purchasing 30,963 shares valued at approximately $2.03 million.
• First American Financial has received mixed analyst ratings, with price targets set between $70.00 and $79.00, and a consensus rating of "Moderate Buy."
• The company recently announced a $300 million share buyback plan and declared a quarterly dividend of $0.54, reflecting a 3.59% yield.

XTX Topco Ltd acquired a new stake in First American Financial Corporation (NYSE:FAF - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 30,963 shares of the insurance provider's stock, valued at approximately $2,032,000.

A number of other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its stake in First American Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider's stock valued at $94,000 after acquiring an additional 230 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of First American Financial by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 84,344 shares of the insurance provider's stock worth $5,266,000 after purchasing an additional 230 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of First American Financial by 2.6% during the 4th quarter. Townsquare Capital LLC now owns 9,992 shares of the insurance provider's stock worth $624,000 after purchasing an additional 251 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of First American Financial by 23.9% during the 1st quarter. GAMMA Investing LLC now owns 1,327 shares of the insurance provider's stock worth $87,000 after purchasing an additional 256 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in First American Financial by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,932 shares of the insurance provider's stock valued at $2,743,000 after buying an additional 270 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Stock Up 1.9%

Shares of NYSE:FAF traded up $1.15 during midday trading on Monday, reaching $61.81. 111,541 shares of the company traded hands, compared to its average volume of 922,565. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 34.11 and a beta of 1.24. The firm's fifty day moving average price is $58.46 and its two-hundred day moving average price is $60.95. First American Financial Corporation has a 12 month low of $53.09 and a 12 month high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 earnings per share for the quarter, beating 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 company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the business posted $1.27 EPS. First American Financial's quarterly revenue was up 14.2% compared to the same quarter last year. Analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial declared that its board has authorized a share repurchase plan on Wednesday, July 23rd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.54 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a yield of 3.5%. First American Financial's dividend payout ratio is currently 119.34%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FAF. Keefe, Bruyette & Woods raised 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 decreased their price objective on First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, July 8th. Finally, Wall Street Zen cut First American Financial from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.00.

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.