MAI Capital Management Has $445,000 Stock Position in First American Financial Corporation $FAF

Key Points

• MAI Capital Management significantly increased its stake in First American Financial Corporation by 944.4%, now owning shares worth $445,000 as per the latest SEC filing.
• First American Financial has received varied analyst ratings, with one brokerage upgrading its rating to "buy" and another lowering its target price to $70.00.
• The company announced a $300 million share repurchase program, indicating management's belief that the stock is currently undervalued.

MAI Capital Management grew its holdings in shares of First American Financial Corporation (NYSE:FAF - Free Report) by 944.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,778 shares of the insurance provider's stock after acquiring an additional 6,129 shares during the quarter. MAI Capital Management's holdings in First American Financial were worth $445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of First American Financial by 0.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 84,344 shares of the insurance provider's stock valued at $5,266,000 after purchasing an additional 230 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in First American Financial during the 4th quarter valued at about $19,377,000. Caxton Associates LP acquired a new position in First American Financial during the 4th quarter valued at about $368,000. Captrust Financial Advisors raised its position in shares of First American Financial by 6.4% during the 4th quarter. Captrust Financial Advisors now owns 7,372 shares of the insurance provider's stock worth $460,000 after buying an additional 442 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in shares of First American Financial by 53.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 9,827 shares of the insurance provider's stock worth $614,000 after acquiring an additional 3,431 shares during the period. Institutional investors own 89.05% of the company's stock.

Insider Buying and Selling at First American Financial

In related 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 value of $229,705.00. Following the completion of the transaction, the director owned 28,095 shares in the company, valued at $1,843,874.85. This trade represents a 11.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on FAF. Keefe, Bruyette & Woods increased their price objective on shares of First American Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Barclays cut their target price on First American Financial from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised First American Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.00.

First American Financial Stock Up 1.1%

First American Financial stock traded up $0.72 during mid-day trading on Friday, hitting $66.99. The company's stock had a trading volume of 712,158 shares, compared to its average volume of 508,997. The stock has a market capitalization of $6.82 billion, a P/E ratio of 37.01 and a beta of 1.27. First American Financial Corporation has a twelve month low of $53.09 and a twelve month high of $70.92. The stock's fifty day moving average price is $62.09 and its two-hundred day moving average price is $61.25.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.13. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The company's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 EPS. Equities analysts expect that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial announced that its board has approved a share repurchase plan on Wednesday, July 23rd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign 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.