First American Financial (NYSE:FAF) Sets New 1-Year High – Here’s What Happened

First American Financial Corporation (NYSE:FAF)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $71.80 and last traded at $71.3410, with a volume of 34486 shares changing hands. The stock had previously closed at $70.09.

Analysts Set New Price Targets

Several research firms have issued reports on FAF. 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. Stephens reissued an “overweight” rating and issued a $84.00 price objective on shares of First American Financial in a research report on Friday, June 12th. Zacks Research lowered shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods dropped their target price on shares of First American Financial from $87.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Finally, 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. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.00.

First American Financial Stock Performance

The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.23. The business has a fifty day moving average of $67.91 and a two-hundred day moving average of $65.21.

First American Financial (NYSE:FAF) last announced its quarterly 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 business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, sell-side analysts predict that First American Financial Corporation will post 6.75 EPS for the current fiscal year.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.1%. First American Financial’s dividend payout ratio is presently 33.79%.

Insider Transactions at First American Financial

In other news, Director Margaret M. Mccarthy sold 6,630 shares of the firm’s 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 completion of the sale, the director owned 24,024 shares in the company, valued at approximately $1,695,854.16. This trade represents a 21.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $399,632.49. Following the sale, the senior vice president directly owned 29,635 shares of the company’s stock, valued at $2,033,850.05. The trade was a 16.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On First American Financial

Institutional investors have recently made changes to their positions in the company. Duncker Streett & Co. Inc. increased its stake 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 during the period. V Square Quantitative Management LLC bought a new stake in First American Financial in the 4th quarter valued at $27,000. Global Retirement Partners LLC boosted its stake in First American Financial by 1,107.5% in the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 443 shares during the period. Danske Bank A S acquired a new position in First American Financial in the 3rd quarter valued at $45,000. Finally, IFP Advisors Inc grew its holdings in First American Financial by 568.8% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after buying an additional 637 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

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.