XTX Topco Ltd Purchases Shares of 30,963 First American Financial Corporation (NYSE:FAF)

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 purchased a new position in First American Financial Corporation (NYSE:FAF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 30,963 shares of the insurance provider's stock, valued at approximately $2,032,000.

Several other institutional investors have also modified their holdings of FAF. Alpine Bank Wealth Management acquired a new stake in First American Financial during the first quarter valued at approximately $28,000. Richardson Capital Management LLC bought a new position in First American Financial during the 1st quarter valued at $39,000. Versant Capital Management Inc lifted its position in shares of First American Financial by 645.7% during the 1st quarter. Versant Capital Management Inc now owns 962 shares of the insurance provider's stock valued at $63,000 after acquiring an additional 833 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of 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 valued at $80,000 after purchasing an additional 692 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Stock Performance

FAF traded up $0.55 on Friday, reaching $60.60. The company had a trading volume of 870,170 shares, compared to its average volume of 1,622,936. First American Financial Corporation has a fifty-two week low of $53.09 and a fifty-two week high of $70.92. The stock has a market cap of $6.17 billion, a P/E ratio of 33.48 and a beta of 1.24. The company's fifty day moving average is $58.46 and its 200 day moving average is $60.96.

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, topping analysts' consensus estimates of $1.40 by $0.13. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. First American Financial had a net margin of 2.90% and a return on equity of 10.41%. The business's revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. On average, sell-side analysts expect that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.54 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.16 annualized dividend and a yield of 3.6%. First American Financial's dividend payout ratio is presently 119.34%.

First American Financial announced that its board has authorized a stock buyback program on Wednesday, July 23rd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the insurance provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FAF shares. Barclays lowered 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 report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Wall Street Zen lowered shares of First American Financial from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.