First American Financial (NYSE:FAF) Upgraded by Stephens to “Overweight” Rating

First American Financial (NYSE:FAF) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has a $81.00 price target on the insurance provider’s stock. Stephens’ target price would indicate a potential upside of 15.46% from the stock’s previous close.

FAF has been the topic of a number of other reports. Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Keefe, Bruyette & Woods boosted their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Finally, Truist Financial increased their target price on shares of First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

First American Financial Stock Performance

Shares of FAF opened at $70.15 on Monday. The stock has a 50-day simple moving average of $63.83 and a 200-day simple moving average of $63.93. First American Financial has a 1 year low of $53.09 and a 1 year high of $70.27. The stock has a market capitalization of $7.15 billion, a PE ratio of 11.67, a PEG ratio of 0.73 and a beta of 1.25.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. Analysts predict that First American Financial will post 5.35 EPS for the current year.

Insider Buying and Selling

In other First American Financial news, Director Parker S. Kennedy bought 44,841 shares of First American Financial stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This represents a 21.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On First American Financial

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its stake in First American Financial by 4,485,375.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider’s stock valued at $355,508,000 after acquiring an additional 5,786,134 shares during the last quarter. Capital Research Global Investors raised its stake in shares of First American Financial by 194.5% during the third quarter. Capital Research Global Investors now owns 3,306,583 shares of the insurance provider’s stock worth $212,415,000 after purchasing an additional 2,183,960 shares during the last quarter. Norges Bank purchased a new stake in shares of First American Financial during the second quarter worth approximately $77,143,000. Channing Capital Management LLC lifted its holdings in shares of First American Financial by 875.1% during the second quarter. Channing Capital Management LLC now owns 1,323,513 shares of the insurance provider’s stock worth $81,250,000 after purchasing an additional 1,187,787 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in First American Financial in the 4th quarter valued at $63,693,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.