First American Financial (NYSE:FAF) Sets New 52-Week High – Still a Buy?

First American Financial Co. (NYSE:FAF)’s share price reached a new 52-week high on Thursday . The company traded as high as $67.98 and last traded at $67.98, with a volume of 102 shares changing hands. The stock had previously closed at $67.59.

Analysts Set New Price Targets

FAF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Truist Financial raised their price target on shares of First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 26th. 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 report on Tuesday, October 8th. Finally, Stephens restated an “overweight” rating and set a $66.00 price target 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 assigned a buy rating to the company. According to MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

First American Financial Trading Down 0.5 %

The stock has a market cap of $6.94 billion, a P/E ratio of 32.00 and a beta of 1.29. The firm’s fifty day moving average is $64.44 and its 200 day moving average is $58.95.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 EPS. Research analysts forecast that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.23%. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, September 20th. First American Financial’s dividend payout ratio (DPR) is currently 103.35%.

Institutional Trading of First American Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. grew its position in First American Financial by 99.1% in the 2nd 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. GAMMA Investing LLC grew its position in First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC grew its position 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 worth $49,000 after purchasing an additional 288 shares during the last quarter. Quarry LP grew its position in First American Financial by 340.8% in the 2nd 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, Ashton Thomas Private Wealth LLC acquired a new stake in First American Financial in the 2nd quarter worth $47,000. 89.05% of the stock is currently 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.