First American Financial (NYSE:FAF) Upgraded by Barclays to Overweight Rating

Barclays upgraded shares of First American Financial (NYSE:FAF) from an equal weight rating to an overweight rating in a report published on Monday, MarketBeat.com reports. The brokerage currently has $72.00 price target on the insurance provider’s stock, up from their previous price target of $70.00.

FAF has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. 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 note on Tuesday, February 17th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $79.00.

First American Financial Stock Up 3.6%

First American Financial stock opened at $60.32 on Monday. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.60 and a beta of 1.28. The firm’s fifty day moving average is $64.38 and its 200 day moving average is $63.32. First American Financial has a 52-week low of $53.09 and a 52-week high of $71.47.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 earnings per share. On average, equities research analysts anticipate that First American Financial will post 5.35 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is currently 36.61%.

Insider Buying and Selling

In related news, Director Parker S. Kennedy purchased 44,841 shares of First American Financial stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $67.85 per share, with a total value of $3,042,461.85. Following the purchase, the director directly owned 251,552 shares of the company’s stock, valued at approximately $17,067,803.20. This represents a 21.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Naples Global Advisors LLC increased its stake in First American Financial by 2.4% in the 4th quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock worth $461,000 after buying an additional 175 shares during the period. Maryland State Retirement & Pension System increased its stake in First American Financial by 3.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock worth $312,000 after buying an additional 180 shares during the period. Inscription Capital LLC increased its stake in First American Financial by 2.4% in the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock worth $469,000 after buying an additional 181 shares during the period. KLP Kapitalforvaltning AS increased its stake in First American Financial by 0.9% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider’s stock worth $1,381,000 after buying an additional 200 shares during the period. Finally, Danske Bank A S increased its stake in First American Financial by 28.6% in the 4th quarter. Danske Bank A S now owns 900 shares of the insurance provider’s stock worth $55,000 after buying an additional 200 shares during the period. 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.