Brokerages Set First American Financial Co. (NYSE:FAF) Price Target at $66.75

First American Financial Co. (NYSE:FAF) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $66.75.

Several equities analysts have recently weighed in on the stock. Barclays cut their target price on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Stephens reissued an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research note on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price target on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Truist Financial increased their price target on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Institutional Trading of First American Financial

A number of institutional investors have recently made changes to their positions in FAF. Norges Bank purchased a new position in First American Financial in the 4th quarter valued at $76,210,000. Dimensional Fund Advisors LP raised its position in shares of First American Financial by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock valued at $196,793,000 after buying an additional 515,710 shares during the last quarter. Boston Partners lifted its stake in shares of First American Financial by 13.3% in the first quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after buying an additional 479,618 shares in the last quarter. Vanguard Group Inc. boosted its position in First American Financial by 4.3% during the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after acquiring an additional 431,089 shares during the last quarter. Finally, MKP Capital Management L.L.C. purchased a new stake in First American Financial during the 4th quarter valued at about $25,776,000. 89.05% of the stock is owned by institutional investors and hedge funds.

First American Financial Price Performance

NYSE FAF opened at $64.99 on Friday. First American Financial has a 1 year low of $49.55 and a 1 year high of $67.88. The company has a market capitalization of $6.74 billion, a PE ratio of 31.10 and a beta of 1.29. The company has a fifty day moving average of $61.93 and a 200 day moving average of $57.85.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.14. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 EPS. Research analysts expect that First American Financial will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio is presently 103.35%.

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.