First American Financial Corp (NYSE:FAF) has been given a consensus rating of “Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $66.00.
A number of equities analysts have recently commented on FAF shares. Barclays set a $68.00 target price on shares of First American Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Compass Point set a $60.00 target price on shares of First American Financial and gave the company a “hold” rating in a report on Friday, July 26th. Piper Jaffray Companies set a $68.00 price target on shares of First American Financial and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Susquehanna Bancshares assumed coverage on First American Financial in a report on Wednesday, June 19th. They issued a “positive” rating and a $73.00 price target for the company.
In related news, COO Christopher Michael Leavell sold 10,006 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $57.99, for a total transaction of $580,247.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina boosted its position in First American Financial by 0.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 55,373 shares of the insurance provider’s stock valued at $2,974,000 after buying an additional 190 shares during the last quarter. BlackRock Inc. grew its stake in shares of First American Financial by 8.3% during the second quarter. BlackRock Inc. now owns 11,753,555 shares of the insurance provider’s stock valued at $631,166,000 after acquiring an additional 904,259 shares in the last quarter. Natixis grew its stake in shares of First American Financial by 3.6% during the second quarter. Natixis now owns 221,212 shares of the insurance provider’s stock valued at $11,879,000 after acquiring an additional 7,718 shares in the last quarter. NewSquare Capital LLC purchased a new stake in shares of First American Financial during the second quarter worth about $41,000. Finally, Royal Bank of Canada increased its position in shares of First American Financial by 9.5% during the second quarter. Royal Bank of Canada now owns 238,124 shares of the insurance provider’s stock worth $12,788,000 after acquiring an additional 20,688 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.
FAF traded down $0.22 on Friday, reaching $58.96. 533,815 shares of the company’s stock were exchanged, compared to its average volume of 606,001. First American Financial has a twelve month low of $41.96 and a twelve month high of $60.48. The company’s 50 day moving average is $57.86 and its 200-day moving average is $54.65. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.11 and a beta of 0.90.
First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.23. First American Financial had a net margin of 9.36% and a return on equity of 14.77%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company posted $1.37 earnings per share. First American Financial’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts forecast that First American Financial will post 4.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, September 6th. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. First American Financial’s payout ratio is currently 36.68%.
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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