First American Financial (NYSE:FAF) Given “Overweight” Rating at Stephens

First American Financial (NYSE:FAFGet Free Report)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a note issued to investors on Friday,Benzinga reports. They currently have a $84.00 price target on the insurance provider’s stock. Stephens’ price objective suggests a potential upside of 29.69% from the company’s previous close.

FAF has been the topic of several other reports. Zacks Research raised First American Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Barclays lifted their price objective on shares of First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Truist Financial upped their target price on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $82.50.

Read Our Latest Research Report on FAF

First American Financial Stock Down 2.1%

FAF opened at $64.77 on Friday. First American Financial has a 52-week low of $53.09 and a 52-week high of $71.47. The company has a 50 day moving average of $66.22 and a two-hundred day moving average of $64.69. The company has a market cap of $6.60 billion, a P/E ratio of 9.95, a P/E/G ratio of 0.64 and a beta of 1.24.

First American Financial (NYSE:FAFGet Free Report) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.27. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. Research analysts anticipate that First American Financial will post 6.81 earnings per share for the current year.

Insider Buying and Selling at First American Financial

In other news, Director Margaret M. Mccarthy sold 6,630 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the transaction, the director owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. This trade represents a 21.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of First American Financial by 121.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 813 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in First American Financial by 10.8% during the first quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock valued at $19,233,000 after purchasing an additional 28,666 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in First American Financial by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock valued at $27,180,000 after purchasing an additional 27,600 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of First American Financial by 182.5% during the first quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock worth $4,435,000 after purchasing an additional 43,651 shares during the period. Finally, Focus Partners Wealth lifted its position in shares of First American Financial by 11.3% in the 1st quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for First American Financial (NYSE:FAF)

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