First American Financial (NYSE:FAF) Receives “Overweight” Rating from Stephens

Stephens reaffirmed their overweight rating on shares of First American Financial (NYSE:FAF) in a report published on Thursday, Benzinga reports. They currently have a $66.00 target price on the insurance provider’s stock.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered their price target on First American Financial from $67.00 to $63.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. Barclays decreased their target price on First American Financial from $65.00 to $61.00 and set an equal weight rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First American Financial has a consensus rating of Moderate Buy and an average price target of $64.50.

First American Financial Trading Up 1.5 %

Shares of FAF opened at $58.04 on Thursday. The company’s 50-day moving average price is $54.86 and its 200 day moving average price is $56.95. First American Financial has a 12-month low of $49.55 and a 12-month high of $65.54. The firm has a market cap of $6.02 billion, a P/E ratio of 27.78 and a beta of 1.28.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 8.02%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the business earned $1.35 earnings per share. Equities research analysts forecast that First American Financial will post 3.83 earnings per share for the current year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, June 10th. This represents a $2.12 annualized dividend and a yield of 3.65%. First American Financial’s dividend payout ratio is currently 101.44%.

Institutional Investors Weigh In On First American Financial

A number of institutional investors have recently added to or reduced their stakes in FAF. Wealth Enhancement Advisory Services LLC lifted its holdings in First American Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock valued at $630,000 after acquiring an additional 193 shares during the period. Blossom Wealth Management lifted its stake in shares of First American Financial by 2.9% in the second quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock valued at $374,000 after purchasing an additional 195 shares during the period. Venturi Wealth Management LLC boosted its holdings in First American Financial by 82.3% during the first quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock worth $31,000 after buying an additional 228 shares in the last quarter. Bessemer Group Inc. increased its holdings in First American Financial by 4.9% in the first quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after buying an additional 234 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in First American Financial by 56.9% in the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after buying an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

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.