First American (FAF) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of First American (NYSE:FAF) from a sell rating to a hold rating in a research note published on Wednesday morning.

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. “

Other equities analysts have also recently issued reports about the company. ValuEngine upgraded First American from a hold rating to a buy rating in a research note on Friday, February 2nd. Barclays dropped their price objective on First American from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $68.00.

Shares of First American opened at $53.93 on Wednesday, Marketbeat.com reports. First American has a 1-year low of $42.33 and a 1-year high of $62.71. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.94 and a beta of 0.77.

First American (NYSE:FAF) last issued its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03. First American had a return on equity of 14.28% and a net margin of 7.67%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $0.52 EPS. The business’s revenue was down 1.5% on a year-over-year basis. equities research analysts anticipate that First American will post 4.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, June 7th. First American’s dividend payout ratio (DPR) is presently 55.27%.

In other news, COO Christopher Michael Leavell sold 27,714 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $51.35, for a total transaction of $1,423,113.90. Following the completion of the sale, the chief operating officer now directly owns 168,919 shares of the company’s stock, valued at approximately $8,673,990.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in FAF. Schwab Charles Investment Management Inc. increased its position in shares of First American by 7.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 562,579 shares of the insurance provider’s stock valued at $31,527,000 after purchasing an additional 38,672 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of First American during the 4th quarter valued at $358,000. Round Table Services LLC purchased a new stake in shares of First American during the 4th quarter valued at $210,000. Foster & Motley Inc. increased its position in shares of First American by 38.5% during the 4th quarter. Foster & Motley Inc. now owns 38,596 shares of the insurance provider’s stock valued at $2,163,000 after purchasing an additional 10,734 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP increased its position in shares of First American by 21.3% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 108,906 shares of the insurance provider’s stock valued at $6,103,000 after purchasing an additional 19,140 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

First American 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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