First American Financial (NYSE:FAF) Price Target Raised to $92.00

First American Financial (NYSE:FAF) had its price objective lifted by Truist from $84.00 to $92.00 in a research report report published on Thursday, The Fly reports.

Separately, Cantor Fitzgerald lowered their price objective on shares of First American Financial from $13.00 to $10.40 and set an overweight rating for the company in a research report on Wednesday, December 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $69.93.

Shares of First American Financial stock opened at $79.54 on Thursday. The stock has a market capitalization of $8.73 billion, a P/E ratio of 7.03 and a beta of 1.21. The company has a 50-day simple moving average of $76.69 and a 200 day simple moving average of $71.18. First American Financial has a 12-month low of $48.69 and a 12-month high of $81.54.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, October 20th. The insurance provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.29. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.04 billion. First American Financial had a net margin of 14.02% and a return on equity of 17.25%. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. On average, equities analysts predict that First American Financial will post 7.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 8th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Tuesday, December 7th. First American Financial’s dividend payout ratio (DPR) is presently 18.04%.

In related news, President Kenneth D. Degiorgio sold 10,400 shares of First American Financial stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $74.50, for a total transaction of $774,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Kenneth D. Degiorgio sold 15,739 shares of First American Financial stock in a transaction that occurred on Friday, October 22nd. The stock was sold at an average price of $74.71, for a total transaction of $1,175,860.69. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in First American Financial by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 12,048,390 shares of the insurance provider’s stock worth $751,217,000 after acquiring an additional 270,660 shares during the last quarter. Ariel Investments LLC lifted its stake in First American Financial by 0.7% in the second quarter. Ariel Investments LLC now owns 5,410,464 shares of the insurance provider’s stock valued at $337,342,000 after buying an additional 38,329 shares in the last quarter. State Street Corp lifted its stake in First American Financial by 10.5% in the second quarter. State Street Corp now owns 3,119,592 shares of the insurance provider’s stock valued at $194,507,000 after buying an additional 295,759 shares in the last quarter. LSV Asset Management lifted its stake in First American Financial by 4.9% in the third quarter. LSV Asset Management now owns 2,309,817 shares of the insurance provider’s stock valued at $154,873,000 after buying an additional 107,726 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in First American Financial by 76.4% in the second quarter. Macquarie Group Ltd. now owns 1,792,198 shares of the insurance provider’s stock valued at $111,744,000 after buying an additional 776,467 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

About First American Financial

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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