First American Financial (NYSE:FAF) Stock Rating Upgraded by Wall Street Zen

First American Financial (NYSE:FAF) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

FAF has been the topic of several other research reports. Barclays upped their target price on shares of First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Truist Financial boosted their price objective on shares of First American Financial from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Keefe, Bruyette & Woods upped their price objective on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Finally, Stephens raised First American Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $81.00 in a report on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

First American Financial Price Performance

FAF opened at $67.71 on Friday. The firm has a market cap of $6.90 billion, a PE ratio of 11.27, a P/E/G ratio of 0.72 and a beta of 1.25. The stock has a 50-day moving average price of $64.62 and a 200-day moving average price of $64.10. First American Financial has a 1 year low of $53.09 and a 1 year high of $71.47.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, beating the consensus estimate of $1.49 by $0.50. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.80 billion. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. First American Financial’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 EPS. As a group, sell-side analysts anticipate that First American Financial will post 5.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Parker S. Kennedy bought 44,841 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $67.85 per share, for a total transaction of $3,042,461.85. Following the completion of the transaction, the director owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Trading of First American Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its stake in shares of First American Financial by 10.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 210,739 shares of the insurance provider’s stock valued at $13,538,000 after buying an additional 20,188 shares in the last quarter. Channing Capital Management LLC boosted its holdings in First American Financial by 16.9% in the 3rd quarter. Channing Capital Management LLC now owns 1,547,790 shares of the insurance provider’s stock worth $99,430,000 after buying an additional 224,277 shares during the period. Thrivent Financial for Lutherans boosted its holdings in First American Financial by 129.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 64,774 shares of the insurance provider’s stock worth $3,976,000 after buying an additional 36,485 shares during the period. AXQ Capital LP increased its stake in First American Financial by 29.4% in the 2nd quarter. AXQ Capital LP now owns 10,880 shares of the insurance provider’s stock worth $668,000 after buying an additional 2,470 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in First American Financial in the 3rd quarter worth $1,215,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

About First American Financial

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.