First American Financial (NYSE:FAF) Price Target Cut to $84.00 by Analysts at Keefe, Bruyette & Woods

First American Financial (NYSE:FAF) had its target price decreased by investment analysts at Keefe, Bruyette & Woods from $87.00 to $84.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 26.52% from the company’s previous close.

Other research analysts also recently issued reports about the company. Stephens reaffirmed an “overweight” rating and set a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Zacks Research downgraded First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Wall Street Zen lowered First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial increased their target price on First American Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, 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. 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, First American Financial presently has a consensus rating of “Moderate Buy” and an average target price of $83.25.

First American Financial Stock Down 1.3%

NYSE:FAF traded down $0.86 during trading hours on Thursday, reaching $66.39. The company had a trading volume of 283,499 shares, compared to its average volume of 1,028,310. First American Financial has a twelve month low of $53.09 and a twelve month high of $71.47. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.67 and a beta of 1.24. The business’s 50-day simple moving average is $67.41 and its two-hundred day simple moving average is $64.84.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.27. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a net margin of 8.73% and a return on equity of 12.58%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, equities analysts predict that First American Financial will post 6.81 earnings per share for the current year.

Insider Activity at First American Financial

In related news, SVP Lisa W. Cornehl sold 5,823 shares of First American Financial stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $68.63, for a total transaction of $399,632.49. Following the transaction, the senior vice president owned 29,635 shares of the company’s stock, valued at $2,033,850.05. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret M. Mccarthy sold 6,630 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $70.59, for a total value of $468,011.70. Following the sale, the director owned 24,024 shares of the company’s stock, valued at $1,695,854.16. This trade represents a 21.63% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is owned by insiders.

Institutional Trading of First American Financial

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

About First American Financial

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.