First American Corporation (The) (NYSE:FAF) had its price target upped by Barclays PLC from $52.00 to $60.00 in a research report released on Friday, October 27th, Marketbeat reports. They currently have an overweight rating on the insurance provider’s stock.
Separately, Zacks Investment Research raised shares of First American Corporation (The) from a hold rating to a strong-buy rating and set a $56.00 price target on the stock in a report on Monday, July 31st.
Shares of First American Corporation (FAF) traded down $0.60 during mid-day trading on Friday, reaching $54.25. 604,100 shares of the company’s stock were exchanged, compared to its average volume of 590,059. First American Corporation has a fifty-two week low of $35.28 and a fifty-two week high of $56.40. The company has a market cap of $6,078.33, a price-to-earnings ratio of 15.58, a PEG ratio of 1.20 and a beta of 0.74.
First American Corporation (The) (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.12. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. First American Corporation (The) had a net margin of 4.88% and a return on equity of 14.30%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. analysts forecast that First American Corporation will post 3.52 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, December 7th. First American Corporation (The)’s payout ratio is currently 60.08%.
In related news, CFO Mark Edward Seaton sold 7,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $48.33, for a total value of $338,310.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth D. Degiorgio sold 7,337 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $55.11, for a total value of $404,342.07. The disclosure for this sale can be found here. Insiders have sold 124,318 shares of company stock worth $6,787,310 over the last quarter. Company insiders own 3.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Keybank National Association OH bought a new position in shares of First American Corporation (The) during the second quarter valued at $1,670,000. Meeder Asset Management Inc. bought a new stake in First American Corporation (The) in the 2nd quarter worth about $618,000. Schwab Charles Investment Management Inc. increased its holdings in First American Corporation (The) by 6.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 494,766 shares of the insurance provider’s stock worth $22,112,000 after buying an additional 28,135 shares in the last quarter. Federated Investors Inc. PA increased its holdings in First American Corporation (The) by 20.2% in the 2nd quarter. Federated Investors Inc. PA now owns 55,605 shares of the insurance provider’s stock worth $2,485,000 after buying an additional 9,360 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of 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 purchasing an additional 9,681,653 shares during the period. Hedge funds and other institutional investors own 83.59% 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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