Zacks Research cut shares of First American Financial (NYSE:FAF – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.
A number of other brokerages have also recently weighed in on FAF. Weiss Ratings upgraded First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 22nd. Barclays upped their price target on First American Financial from $72.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Truist Financial lifted their price objective on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Stephens reaffirmed an “overweight” rating and issued a $84.00 price objective on shares of First American Financial in a research note on Friday, June 12th. Finally, Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Six 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, First American Financial presently has an average rating of “Moderate Buy” and a consensus target price of $82.50.
Get Our Latest Stock Analysis on First American Financial
First American Financial Stock Performance
First American Financial (NYSE:FAF – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.27. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business earned $0.84 EPS. First American Financial’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, equities analysts forecast that First American Financial will post 6.81 EPS for the current fiscal year.
First American Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. First American Financial’s dividend payout ratio is presently 33.79%.
Insider Transactions at First American Financial
In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the sale, the senior vice president owned 29,635 shares of the company’s stock, valued at $2,033,850.05. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret M. Mccarthy sold 6,630 shares of First American Financial stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the sale, the director owned 24,024 shares in the company, valued at $1,695,854.16. This represents a 21.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On First American Financial
A number of large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in First American Financial by 4,485,375.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock worth $355,508,000 after buying an additional 5,786,134 shares in the last quarter. Capital Research Global Investors grew its stake in shares of First American Financial by 194.5% during the third quarter. Capital Research Global Investors now owns 3,306,583 shares of the insurance provider’s stock valued at $212,415,000 after acquiring an additional 2,183,960 shares in the last quarter. Norges Bank purchased a new stake in shares of First American Financial during the fourth quarter worth about $75,011,000. Mendon Capital Advisors Corp purchased a new stake in shares of First American Financial during the first quarter worth about $71,680,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of First American Financial by 469.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,284,417 shares of the insurance provider’s stock worth $77,438,000 after acquiring an additional 1,058,949 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.
First American Financial Company Profile
First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.
The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.
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