First American Financial Co. (NYSE:FAF) – Equities research analysts at Truist Securities raised their FY2021 earnings per share estimates for First American Financial in a note issued to investors on Wednesday, January 12th. Truist Securities analyst M. Hughes now expects that the insurance provider will post earnings per share of $7.67 for the year, up from their previous estimate of $7.58. Truist Securities also issued estimates for First American Financial’s Q4 2021 earnings at $1.75 EPS, Q1 2022 earnings at $1.21 EPS, Q4 2022 earnings at $1.64 EPS and FY2022 earnings at $6.55 EPS.
A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald reduced their target price on shares of First American Financial from $13.00 to $10.40 and set an “overweight” rating on the stock in a report on Wednesday, December 15th. Truist increased their target price on shares of First American Financial from $84.00 to $92.00 in a report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $69.93.
First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 20th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.29. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.04 billion. First American Financial had a net margin of 14.02% and a return on equity of 17.25%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 EPS.
A number of large investors have recently modified their holdings of FAF. American Century Companies Inc. lifted its stake in shares of First American Financial by 83.5% in the 2nd quarter. American Century Companies Inc. now owns 13,775 shares of the insurance provider’s stock worth $859,000 after acquiring an additional 6,268 shares during the period. Sei Investments Co. acquired a new stake in shares of First American Financial in the 2nd quarter worth $1,172,000. HighTower Advisors LLC lifted its stake in shares of First American Financial by 77.7% in the 2nd quarter. HighTower Advisors LLC now owns 7,705 shares of the insurance provider’s stock worth $479,000 after acquiring an additional 3,370 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of First American Financial in the second quarter valued at about $834,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of First American Financial by 15.0% in the second quarter. Rockefeller Capital Management L.P. now owns 73,894 shares of the insurance provider’s stock valued at $4,607,000 after purchasing an additional 9,636 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.
In related news, President Kenneth D. Degiorgio sold 15,739 shares of the stock in a transaction on Friday, October 22nd. The shares were sold at an average price of $74.71, for a total value of $1,175,860.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Kenneth D. Degiorgio sold 10,400 shares of the stock in a transaction on Monday, October 25th. The stock was sold at an average price of $74.50, for a total transaction of $774,800.00. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 8th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Tuesday, December 7th. First American Financial’s dividend payout ratio is presently 18.04%.
First American Financial Company Profile
First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.
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