Zacks Investment Research upgraded shares of First American Corporation (The) (NYSE:FAF) from a hold rating to a strong-buy rating in a research report report published on Monday. Zacks Investment Research currently has $61.00 price objective on the insurance provider’s stock.

According to Zacks, “First American Financial Corporation provides financial services through its Title Insurance and Services segment and its Specialty Insurance segment. The Title Insurance and Services segment provides title insurance policies and provides escrow and real estate closing services on residential and commercial property. It also maintains, manages, and provides access to automated title plant records and images; accommodates tax-deferred exchanges of real estate; and provides investment advisory, trust, lending, and deposit services. The Specialty Insurance segment offers property and casualty insurance, including homeowners insurance, as well as provides home warranty policies. This segment markets its property and casualty insurance products through direct distribution channels, including employees and agents, as well as a network of brokers. First American Financial Corporation is based in Santa Ana, California. “

Separately, Barclays PLC raised their target price on First American Corporation (The) from $52.00 to $60.00 and gave the company an overweight rating in a report on Friday, October 27th.

Shares of First American Corporation (NYSE:FAF) traded up $0.17 during trading on Monday, hitting $54.68. The stock had a trading volume of 370,715 shares, compared to its average volume of 652,706. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.18 and a beta of 0.74.

First American Corporation (The) (NYSE:FAF) last issued its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. First American Corporation (The) had a return on equity of 14.30% and a net margin of 4.88%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. equities analysts predict that First American Corporation will post 3.52 earnings per share for the current fiscal year.

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In related news, CFO Mark Edward Seaton sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $48.33, for a total transaction of $338,310.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in FAF. PNC Financial Services Group Inc. boosted its holdings in First American Corporation (The) by 453.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,010 shares of the insurance provider’s stock valued at $354,000 after acquiring an additional 7,381 shares during the period. Geode Capital Management LLC boosted its holdings in First American Corporation (The) by 8.9% during the 1st quarter. Geode Capital Management LLC now owns 852,571 shares of the insurance provider’s stock valued at $33,488,000 after acquiring an additional 69,749 shares during the period. UBS Group AG boosted its holdings in First American Corporation (The) by 6.8% during the 1st quarter. UBS Group AG now owns 52,651 shares of the insurance provider’s stock valued at $2,068,000 after acquiring an additional 3,361 shares during the period. BlackRock Inc. boosted its holdings in First American Corporation (The) by 3,956.3% during the 1st quarter. BlackRock Inc. now owns 9,926,367 shares of the insurance provider’s stock valued at $389,909,000 after acquiring an additional 9,681,653 shares during the period. Finally, Amalgamated Bank boosted its holdings in First American Corporation (The) by 3.0% during the 1st quarter. Amalgamated Bank now owns 16,936 shares of the insurance provider’s stock valued at $665,000 after acquiring an additional 491 shares during the period. Institutional investors own 83.92% of the company’s stock.

About First American Corporation (The)

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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