First American Financial (NYSE:FAF) Price Target Raised to $82.00

First American Financial (NYSE:FAF) had its price target upped by Truist Financial from $76.00 to $82.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. Truist Financial currently has a buy rating on the insurance provider’s stock.

Several other equities analysts have also commented on the stock. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of First American Financial in a research report on Friday, February 13th. Keefe, Bruyette & Woods upped their price target 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. Stephens began coverage on First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.67.

First American Financial Stock Up 0.6%

Shares of First American Financial stock opened at $66.53 on Tuesday. The firm has a market cap of $6.78 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27. First American Financial has a 52 week low of $53.09 and a 52 week high of $68.75. The business’s fifty day simple moving average is $63.36 and its 200-day simple moving average is $63.73.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.93%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $1.35 EPS. First American Financial’s revenue was up 21.6% on a year-over-year basis. As a group, equities analysts expect that First American Financial will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a $0.55 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is 36.61%.

Insiders Place Their Bets

In related news, Director Parker S. Kennedy acquired 44,841 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the purchase, the director owned 251,552 shares of the company’s stock, valued at $17,067,803.20. This represents a 21.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAF. V Square Quantitative Management LLC acquired a new stake in shares of First American Financial in the 4th quarter valued at $27,000. Global Retirement Partners LLC increased its holdings in First American Financial by 1,107.5% in the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after buying an additional 443 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in First American Financial by 2,887.5% in the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after buying an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in First American Financial during the 2nd quarter worth about $35,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of First American Financial during the 2nd quarter worth about $36,000. 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.