First American Financial (NYSE:FAF) Stock Rating Upgraded by Stephens

First American Financial (NYSE:FAF) was upgraded by Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat reports. The brokerage presently has a $81.00 price objective on the insurance provider’s stock. Stephens’ price target would indicate a potential upside of 15.46% from the company’s current price.

A number of other brokerages have also recently commented on FAF. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Truist Financial increased their price objective on shares of First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Keefe, Bruyette & Woods boosted their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.50.

First American Financial Price Performance

Shares of First American Financial stock opened at $70.15 on Monday. The stock has a market capitalization of $7.15 billion, a P/E ratio of 11.67, a PEG ratio of 0.73 and a beta of 1.25. The business has a 50 day simple moving average of $63.83 and a two-hundred day simple moving average of $63.93. First American Financial has a 12 month low of $53.09 and a 12 month high of $70.27.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.49 by $0.50. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business earned $1.35 earnings per share. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, research analysts anticipate that First American Financial will post 5.35 EPS for the current fiscal year.

Insider Buying and Selling

In other First American Financial news, Director Parker S. Kennedy purchased 44,841 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the purchase, the director directly owned 251,552 shares in the company, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First American Financial

A number of institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in First American Financial by 4,485,375.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after acquiring an additional 5,786,134 shares during the period. Capital Research Global Investors boosted its stake in shares of First American Financial by 194.5% in 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 purchasing an additional 2,183,960 shares during the period. Norges Bank acquired a new position in shares of First American Financial in the second quarter valued at approximately $77,143,000. Channing Capital Management LLC lifted its holdings in First American Financial by 875.1% during the 2nd quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock worth $81,250,000 after buying an additional 1,187,787 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in First American Financial in the 4th quarter valued at approximately $63,693,000. 89.05% of the stock is owned by institutional investors and hedge funds.

About First American Financial

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.