First American Financial (NYSE:FAF) Rating Lowered to “Hold” at Wall Street Zen

First American Financial (NYSE:FAF) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Barclays boosted their price target on shares of First American Financial from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Truist Financial raised their price objective on shares of First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Stephens initiated coverage on First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating on the stock. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.67.

First American Financial Stock Up 1.2%

NYSE FAF opened at $67.34 on Friday. The firm has a market cap of $6.86 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.69 and a beta of 1.27. First American Financial has a 52-week low of $53.09 and a 52-week high of $68.75. The business’s 50-day moving average price is $63.43 and its 200 day moving average price is $63.77.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.50. First American Financial had a return on equity of 11.92% and a net margin of 8.34%.The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, analysts anticipate that First American Financial will post 5.35 earnings per share for the current year.

Insiders Place Their Bets

In other First American Financial news, Director Parker S. Kennedy acquired 44,841 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the purchase, the director directly owned 251,552 shares in the company, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On First American Financial

A number of institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of First American Financial during the fourth quarter worth $27,000. Global Retirement Partners LLC increased its stake in First American Financial by 1,107.5% in the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 443 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in First American Financial by 2,887.5% during the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after buying an additional 462 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in First American Financial in the 2nd quarter worth about $35,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in First American Financial in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds 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.