First American Financial (NYSE:FAF) Downgraded by Zacks Research to “Hold”

First American Financial (NYSE:FAF) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Barclays lifted their price objective on shares of First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Weiss Ratings upgraded First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 22nd. Stephens reaffirmed an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a research report on Friday, June 12th. Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Truist Financial increased their price objective on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.50.

First American Financial Stock Down 3.5%

NYSE FAF opened at $67.01 on Tuesday. The stock has a market capitalization of $6.83 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. The company has a 50 day moving average price of $67.41 and a two-hundred day moving average price of $64.84. First American Financial has a 12-month low of $53.09 and a 12-month high of $71.47.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 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 posted $0.84 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities analysts anticipate that First American Financial will post 6.81 EPS for the current year.

Insiders Place Their Bets

In related news, Director Margaret M. Mccarthy sold 6,630 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the transaction, the director owned 24,024 shares of the company’s stock, valued at approximately $1,695,854.16. The trade was a 21.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lisa W. Cornehl sold 5,823 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the sale, the senior vice president directly owned 29,635 shares in the company, valued at $2,033,850.05. This trade represents a 16.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of America Corp DE grew its stake in shares of First American Financial by 42.1% in the first quarter. Bank of America Corp DE now owns 624,123 shares of the insurance provider’s stock worth $37,628,000 after acquiring an additional 184,896 shares during the last quarter. Amundi raised its stake in First American Financial by 68.4% during the 1st quarter. Amundi now owns 9,628 shares of the insurance provider’s stock valued at $580,000 after purchasing an additional 3,909 shares during the last quarter. California State Teachers Retirement System raised its stake in First American Financial by 25.2% during the 1st quarter. California State Teachers Retirement System now owns 120,448 shares of the insurance provider’s stock valued at $7,262,000 after purchasing an additional 24,224 shares during the last quarter. Royal Bank of Canada boosted its holdings in First American Financial by 66.3% in the 1st quarter. Royal Bank of Canada now owns 88,582 shares of the insurance provider’s stock valued at $5,340,000 after purchasing an additional 35,315 shares during the period. Finally, Empowered Funds LLC boosted its holdings in First American Financial by 60.8% in the 1st quarter. Empowered Funds LLC now owns 7,652 shares of the insurance provider’s stock valued at $461,000 after purchasing an additional 2,892 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

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.