Brokerages Set First American Financial Corporation (NYSE:FAF) Target Price at $82.50

First American Financial Corporation (NYSE:FAF) has been given an average rating of “Buy” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $82.50.

FAF has been the topic of several research reports. Truist Financial upped their target price on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Stephens reissued an “overweight” rating and issued a $84.00 target price on shares of First American Financial in a research report on Friday, June 12th. Weiss Ratings raised First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised shares of First American Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th.

Insider Buying and Selling at First American Financial

In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 29,635 shares of the company’s stock, valued at approximately $2,033,850.05. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret M. Mccarthy sold 6,630 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 24,024 shares in the company, valued at approximately $1,695,854.16. The trade was a 21.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First American Financial

Several hedge funds have recently added to or reduced their stakes in the business. Equitable Trust Co. boosted its holdings in First American Financial by 2.3% in the first quarter. Equitable Trust Co. now owns 6,980 shares of the insurance provider’s stock valued at $421,000 after purchasing an additional 160 shares during the last quarter. Naples Global Advisors LLC boosted its holdings in First American Financial by 2.4% in the fourth quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock valued at $461,000 after purchasing an additional 175 shares during the last quarter. Inscription Capital LLC boosted its holdings in First American Financial by 2.4% in the fourth quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock valued at $469,000 after purchasing an additional 181 shares during the last quarter. Danske Bank A S boosted its holdings in First American Financial by 28.6% in the fourth quarter. Danske Bank A S now owns 900 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 200 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of First American Financial by 14.0% during the 4th quarter. Quarry LP now owns 1,658 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 203 shares in the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Price Performance

NYSE FAF opened at $67.84 on Wednesday. The stock’s fifty day moving average price is $66.70 and its 200 day moving average price is $64.71. First American Financial has a 1 year low of $53.09 and a 1 year high of $71.47. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 0.64 and a beta of 1.24.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.27. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $0.84 EPS. The firm’s revenue was up 16.2% on a year-over-year basis. Research analysts expect that First American Financial will post 6.81 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 15th. Shareholders of record on Monday, June 8th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, June 8th. First American Financial’s dividend payout ratio is presently 33.79%.

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.