Meeder Asset Management Inc. Has $3.24 Million Holdings in First American Financial Corporation (NYSE:FAF)

Key Points

• Meeder Asset Management Inc. increased its holdings in First American Financial by 273.5% during the first quarter, owning 49,369 shares valued at approximately $3.24 million.
• Research analysts have mixed ratings on First American Financial, with Barclays lowering its price target to $70, while Keefe, Bruyette & Woods raised theirs to $79, giving the stock an average "Moderate Buy" rating.
• First American Financial recently declared a $0.54 quarterly dividend and authorized a $300 million share repurchase program, indicating confidence in the company's valuation.

Meeder Asset Management Inc. grew its position in First American Financial Corporation (NYSE:FAF - Free Report) by 273.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,369 shares of the insurance provider's stock after purchasing an additional 36,152 shares during the period. Meeder Asset Management Inc.'s holdings in First American Financial were worth $3,240,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of First American Financial in the 4th quarter worth approximately $75,780,000. FMR LLC lifted its position in First American Financial by 20.8% in the fourth quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock worth $377,559,000 after purchasing an additional 1,042,145 shares during the period. Lazard Asset Management LLC boosted its stake in First American Financial by 500.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider's stock valued at $62,646,000 after purchasing an additional 836,314 shares in the last quarter. Capital International Investors acquired a new position in shares of First American Financial during the 4th quarter valued at $41,626,000. Finally, Ariel Investments LLC lifted its holdings in shares of First American Financial by 9.9% in the fourth quarter. Ariel Investments LLC now owns 3,993,155 shares of the insurance provider's stock valued at $249,333,000 after buying an additional 359,777 shares during the period. Institutional investors and hedge funds own 89.05% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays cut their price target on shares of 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. Wall Street Zen lowered shares of First American Financial from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Keefe, Bruyette & Woods lifted their price target 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

First American Financial Stock Up 0.9%

FAF traded up $0.57 during trading on Friday, hitting $60.62. The company's stock had a trading volume of 454,714 shares, compared to its average volume of 925,259. The firm's 50 day moving average price is $58.36 and its two-hundred day moving average price is $60.95. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 33.49 and a beta of 1.24. 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 released its earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.40 by $0.13. The company had revenue of $1.84 billion during 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 period last year, the firm earned $1.27 EPS. On average, sell-side analysts forecast that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. First American Financial's dividend payout ratio (DPR) is currently 119.34%.

First American Financial declared that its board has initiated a share 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 reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

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.