First American Financial (FAF) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of First American Financial (NYSE:FAF) from a sell rating to a hold rating in a research report sent to investors on Thursday.
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, ValuEngine upgraded shares of First American Financial from a sell rating to a hold rating in a research note on Friday, January 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. First American Financial has an average rating of Hold and a consensus price target of $57.50.
First American Financial (NYSE:FAF) last announced its earnings results on Thursday, October 25th. The insurance provider reported $1.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.02). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. First American Financial had a net margin of 10.39% and a return on equity of 13.68%. Equities research analysts anticipate that First American Financial will post 4.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 10th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, December 7th. This represents a $1.68 annualized dividend and a dividend yield of 3.57%. First American Financial’s payout ratio is currently 61.09%.
Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in shares of First American Financial by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 11,524 shares of the insurance provider’s stock worth $514,000 after buying an additional 223 shares during the period. First Hawaiian Bank lifted its position in First American Financial by 5.4% during the fourth quarter. First Hawaiian Bank now owns 10,215 shares of the insurance provider’s stock valued at $456,000 after purchasing an additional 520 shares during the period. MetLife Investment Advisors LLC lifted its position in First American Financial by 1.5% during the second quarter. MetLife Investment Advisors LLC now owns 70,106 shares of the insurance provider’s stock valued at $3,626,000 after purchasing an additional 1,010 shares during the period. IMS Capital Management acquired a new position in First American Financial during the third quarter valued at $52,000. Finally, Chicago Equity Partners LLC lifted its position in First American Financial by 1.2% during the third quarter. Chicago Equity Partners LLC now owns 89,860 shares of the insurance provider’s stock valued at $4,636,000 after purchasing an additional 1,105 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.
First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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