First American Financial (NYSE:FAF) Cut to “Hold” at Wall Street Zen

First American Financial (NYSE:FAF) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also recently weighed in on FAF. Stephens initiated coverage on First American Financial in a research report on Friday, November 14th. They issued an “equal weight” rating on the stock. Weiss Ratings raised First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Truist Financial lifted their price target on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Barclays upped their price objective on First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.00.

First American Financial Price Performance

NYSE FAF opened at $64.60 on Friday. The company’s fifty day moving average is $62.83 and its two-hundred day moving average is $61.85. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 13.89 and a beta of 1.27. First American Financial has a 52-week low of $53.09 and a 52-week high of $69.53.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned $1.34 EPS. The company’s quarterly revenue was up 40.7% on a year-over-year basis. As a group, sell-side analysts expect that First American Financial will post 5.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First American Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in shares of First American Financial by 137.8% in the 1st quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock valued at $1,384,000 after acquiring an additional 12,222 shares during the last quarter. Advantage Alpha Capital Partners LP increased its position in shares of First American Financial by 14.2% during the first quarter. Advantage Alpha Capital Partners LP now owns 81,010 shares of the insurance provider’s stock worth $5,317,000 after acquiring an additional 10,044 shares in the last quarter. AXQ Capital LP boosted its stake in First American Financial by 29.4% during the 2nd quarter. AXQ Capital LP now owns 10,880 shares of the insurance provider’s stock valued at $668,000 after purchasing an additional 2,470 shares during the last quarter. Carlson Capital L.P. purchased a new stake in shares of First American Financial in the first quarter worth approximately $630,000. Finally, PNC Financial Services Group Inc. raised its position in First American Financial by 10.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,273 shares of the insurance provider’s stock valued at $280,000 after buying an additional 420 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.