First American Financial (NYSE:FAF) Hits New 52-Week High – Time to Buy?

First American Financial Corporation (NYSE:FAF)’s share price reached a new 52-week high on Friday . The company traded as high as $68.75 and last traded at $67.95, with a volume of 116845 shares trading hands. The stock had previously closed at $67.09.

Analyst Ratings Changes

FAF has been the topic of a number of research reports. Truist Financial lifted their price target on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Barclays dropped their price target on First American Financial from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of First American Financial in a report on Friday, December 26th. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and a consensus price target of $75.75.

First American Financial Price Performance

The business’s fifty day moving average price is $62.96 and its 200-day moving average price is $63.36. The stock has a market capitalization of $6.87 billion, a PE ratio of 14.50, a P/E/G ratio of 0.72 and a beta of 1.27.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, March 9th. First American Financial’s payout ratio is presently 47.31%.

Institutional Trading of First American Financial

Several institutional investors and hedge funds have recently modified their holdings of FAF. EverSource Wealth Advisors LLC grew its holdings in shares of First American Financial by 41.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,935 shares of the insurance provider’s stock worth $119,000 after purchasing an additional 566 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of First American Financial in the 4th quarter worth $735,000. Global Retirement Partners LLC raised its position in shares of First American Financial by 1,107.5% during the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after buying an additional 443 shares in the last quarter. IFP Advisors Inc raised its position in shares of First American Financial by 568.8% during the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after buying an additional 637 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of First American Financial by 14.7% during the 4th quarter. HighTower Advisors LLC now owns 9,776 shares of the insurance provider’s stock worth $601,000 after acquiring an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.