First American Financial (NYSE:FAF) Reaches New 1-Year High at $59.18


Share on StockTwits

First American Financial Co. (NYSE:FAF) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.18 and last traded at $59.10, with a volume of 4395 shares traded. The stock had previously closed at $58.78.

A number of research analysts have recently weighed in on the company. Susquehanna Bancshares lifted their price target on First American Financial from $63.00 to $67.00 and gave the company a “positive” rating in a report on Friday, February 12th. Zacks Investment Research upgraded First American Financial from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, January 19th. Susquehanna upped their price objective on First American Financial from $63.00 to $67.00 and gave the stock a “positive” rating in a report on Friday, February 12th. Finally, Barclays raised their price objective on First American Financial from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, February 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $60.86.

The company’s 50-day moving average price is $55.30 and its two-hundred day moving average price is $52.43. The stock has a market cap of $6.50 billion, a PE ratio of 10.39 and a beta of 1.13.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, February 10th. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.39. First American Financial had a net margin of 9.61% and a return on equity of 13.06%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Equities research analysts forecast that First American Financial Co. will post 5.62 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 8th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, March 5th. First American Financial’s dividend payout ratio (DPR) is 31.94%.

A number of institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in shares of First American Financial in the 4th quarter valued at approximately $47,000. BlackRock Inc. lifted its holdings in First American Financial by 15.6% in the 4th quarter. BlackRock Inc. now owns 13,585,986 shares of the insurance provider’s stock valued at $701,445,000 after purchasing an additional 1,833,979 shares in the last quarter. Perry Creek Capital LP purchased a new position in shares of First American Financial during the 4th quarter worth $78,613,000. Principal Financial Group Inc. raised its holdings in First American Financial by 375.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,775,320 shares of the insurance provider’s stock valued at $91,659,000 after buying an additional 1,402,223 shares during the period. Finally, Norges Bank acquired a new position in First American Financial in the 4th quarter valued at about $53,264,000. Institutional investors own 83.32% of the company’s stock.

First American Financial Company Profile (NYSE:FAF)

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.

Recommended Story: What is the strike price in options trading?

Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.