First American Financial (NYSE:FAF) was upgraded by equities researchers at Stephens from an “equal” rating to a “weight” rating in a research note issued to investors on Monday, January 8th, MarketBeat reports.
Several other research firms have also weighed in on FAF. Zacks Investment Research raised First American Financial from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Thursday, December 28th. Barclays increased their target price on First American Financial from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 27th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.00.
First American Financial (NYSE FAF) traded down $0.42 on Monday, hitting $58.65. The stock had a trading volume of 143,508 shares, compared to its average volume of 676,004. The company has a market cap of $6,586.99, a price-to-earnings ratio of 16.89, a PEG ratio of 1.15 and a beta of 0.74. First American Financial has a 1-year low of $37.50 and a 1-year high of $62.71.
In related news, insider Kenneth D. Degiorgio sold 7,337 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $55.11, for a total transaction of $404,342.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher Michael Leavell sold 75,843 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $55.25, for a total value of $4,190,325.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,161 shares of company stock valued at $10,639,325. 3.10% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in FAF. Acrospire Investment Management LLC grew its position in First American Financial by 352.3% during the second quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock worth $120,000 after buying an additional 2,100 shares in the last quarter. Cerebellum GP LLC bought a new position in First American Financial during the fourth quarter worth about $129,000. Quantbot Technologies LP lifted its stake in First American Financial by 78.1% during the second quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock worth $136,000 after purchasing an additional 1,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First American Financial by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock worth $170,000 after purchasing an additional 298 shares during the period. Finally, Macquarie Group Ltd. bought a new position in First American Financial during the third quarter worth about $190,000. Institutional investors and hedge funds own 83.47% of the company’s stock.
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About First American Financial
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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