First American Financial (NYSE:FAF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $56.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.83% from the stock’s previous close.
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. “
Separately, ValuEngine lowered First American Financial from a “buy” rating to a “hold” rating in a report on Friday, April 13th.
FAF opened at $50.53 on Tuesday. The firm has a market capitalization of $5.55 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.86 and a beta of 0.81. First American Financial has a 12-month low of $43.92 and a 12-month high of $62.71.
First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.03. First American Financial had a return on equity of 14.28% and a net margin of 7.67%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $0.52 earnings per share. First American Financial’s quarterly revenue was down 1.5% compared to the same quarter last year. sell-side analysts expect that First American Financial will post 4.44 EPS for the current fiscal year.
In related news, COO Christopher Michael Leavell sold 27,714 shares of the 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 in the company, valued at $8,673,990.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of FAF. Three Peaks Capital Management LLC acquired a new position in First American Financial during the first quarter worth $111,000. Advisors Preferred LLC acquired a new position in First American Financial during the first quarter worth $140,000. Jane Street Group LLC acquired a new position in First American Financial during the fourth quarter worth $202,000. CIBC Asset Management Inc acquired a new position in First American Financial during the first quarter worth $208,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in First American Financial during the fourth quarter worth $212,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.
About First American Financial
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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