First American Financial Corporation (NYSE:FAF) Given Consensus Rating of “Buy” by Brokerages

First American Financial Corporation (NYSE:FAF) has received an average rating of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $82.50.

Several equities research analysts have issued reports on the stock. Stephens boosted their price objective on shares of First American Financial from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Wall Street Zen downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research upgraded shares of First American Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Finally, Weiss Ratings upgraded shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 22nd.

Insider Transactions at First American Financial

In other news, SVP Lisa W. Cornehl sold 5,823 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the transaction, the senior vice president directly owned 29,635 shares of the company’s stock, valued at approximately $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Parker S. Kennedy bought 44,841 shares of First American Financial stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the transaction, the director owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This represents a 21.69% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FAF. Duncker Streett & Co. Inc. lifted its position in shares of First American Financial by 616.4% during the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 376 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of First American Financial during the fourth quarter worth $27,000. Global Retirement Partners LLC lifted its position in shares of First American Financial by 1,107.5% during the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 443 shares in the last quarter. First Horizon Corp acquired a new position in shares of First American Financial during the third quarter worth $37,000. Finally, Danske Bank A S acquired a new position in shares of First American Financial during the third quarter worth $45,000. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Stock Up 0.0%

FAF opened at $67.04 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 $64.57 and a two-hundred day moving average of $64.16. The company has a market cap of $6.83 billion, a P/E ratio of 10.30, a P/E/G ratio of 0.64 and a beta of 1.28.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. First American Financial’s revenue for the quarter was up 16.2% on a year-over-year basis. Research analysts anticipate that First American Financial will post 6.83 earnings per share for the current year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, June 8th. First American Financial’s payout ratio is presently 33.79%.

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.