First American Financial (NYSE:FAF) Price Target Raised to $73.00

First American Financial (NYSE:FAF) had its target price upped by Truist Financial from $68.00 to $73.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other analysts have also commented on FAF. Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Stephens reissued an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Finally, Barclays raised their price target on shares of First American Financial from $61.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Price Performance

Shares of FAF opened at $63.28 on Friday. First American Financial has a one year low of $49.55 and a one year high of $67.88. The company has a market cap of $6.51 billion, a PE ratio of 33.84 and a beta of 1.29. The stock has a 50-day moving average of $64.71 and a 200-day moving average of $59.09.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts expect that First American Financial will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a $0.54 dividend. The ex-dividend date was Friday, September 20th. This represents a $2.16 annualized dividend and a dividend yield of 3.41%. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio is currently 115.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. lifted its position in shares of First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after buying an additional 334 shares in the last quarter. GAMMA Investing LLC increased its position in shares of First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 257 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in First American Financial during the second quarter worth $47,000. Quarry LP boosted its position in First American Financial by 340.8% in the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 668 shares during the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in First American Financial by 56.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 288 shares during the period. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

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.