First American Financial (NYSE:FAF) Reaches New 12-Month High on Analyst Upgrade

First American Financial Co. (NYSE:FAF)’s stock price hit a new 52-week high during trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $66.00 to $72.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. First American Financial traded as high as $66.05 and last traded at $65.86, with a volume of 262506 shares. The stock had previously closed at $63.73.

A number of other equities research analysts have also recently weighed in on FAF. Truist Financial upped their price objective on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays lowered their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Finally, Stephens reiterated an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, First American Financial currently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

Institutional Trading of First American Financial

Several large investors have recently bought and sold shares of FAF. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of First American Financial during the fourth quarter valued at $26,000. Mather Group LLC. raised its stake in shares of First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 334 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of First American Financial during the fourth quarter worth about $45,000. GAMMA Investing LLC boosted its position in First American Financial by 56.9% in the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after buying an additional 257 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its position in First American Financial by 56.5% in the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock valued at $49,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Stock Performance

The company’s fifty day moving average is $59.05 and its two-hundred day moving average is $57.20. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 earnings per share. On average, sell-side analysts anticipate that First American Financial Co. will post 3.89 EPS for the current fiscal year.

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.