First American Financial (NYSE:FAF) Price Target Increased to $73.00 by Analysts at Truist Financial

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

Several other equities analysts have also commented on FAF. Barclays increased their price objective 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. Keefe, Bruyette & Woods lifted their price target on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Stephens reissued an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

First American Financial Stock Down 1.0 %

Shares of NYSE FAF traded down $0.66 during trading hours on Friday, hitting $63.28. 550,624 shares of the stock were exchanged, compared to its average volume of 675,628. First American Financial has a 12 month low of $49.55 and a 12 month high of $67.88. The firm has a fifty day moving average price of $64.71 and a 200-day moving average price of $59.08. The company has a market cap of $6.56 billion, a PE ratio of 30.28 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that First American Financial will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, September 20th. This is a boost from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s payout ratio is 103.35%.

Institutional Trading of First American Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of First American Financial by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,647,709 shares of the insurance provider’s stock worth $196,793,000 after purchasing an additional 515,710 shares during the period. Boston Partners increased its holdings in First American Financial by 13.3% in the first quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock valued at $248,237,000 after buying an additional 479,618 shares in the last quarter. Vanguard Group Inc. raised its position in shares of First American Financial by 4.3% in 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 period. Reinhart Partners LLC. boosted its stake in shares of First American Financial by 65.8% during the 2nd quarter. Reinhart Partners LLC. now owns 943,755 shares of the insurance provider’s stock worth $50,916,000 after acquiring an additional 374,662 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of First American Financial by 245.1% during the 2nd quarter. AQR Capital Management LLC now owns 419,995 shares of the insurance provider’s stock valued at $22,659,000 after acquiring an additional 298,302 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

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.