First American Financial (NYSE:FAF) Reaches New 12-Month High – Here’s What Happened

Shares of First American Financial Corporation (NYSE:FAF) reached a new 52-week high on Thursday . The company traded as high as $69.00 and last traded at $68.0250, with a volume of 35696 shares. The stock had previously closed at $67.63.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Stephens assumed coverage on shares of First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating on the stock. Truist Financial lifted their price target on First American Financial from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Barclays raised their target price on First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of First American Financial in a report on Friday, February 13th. Finally, Wall Street Zen downgraded First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

First American Financial Trading Down 0.2%

The stock has a market cap of $6.88 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 0.70 and a beta of 1.27. The stock’s fifty day moving average price is $63.60 and its 200 day moving average price is $63.87.

First American Financial (NYSE:FAF) last announced 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 net margin of 8.34% and a return on equity of 11.92%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business earned $1.35 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a $0.55 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is 36.61%.

Insider Transactions at First American Financial

In other First American Financial news, Director Parker S. Kennedy purchased 44,841 shares of the stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the completion of the acquisition, the director owned 251,552 shares in the company, valued at $17,067,803.20. This trade represents a 21.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in shares of First American Financial by 3.9% in the 2nd quarter. ProShare Advisors LLC now owns 4,561 shares of the insurance provider’s stock worth $280,000 after buying an additional 172 shares in the last quarter. Naples Global Advisors LLC raised its position in shares of First American Financial by 2.4% during the 4th quarter. Naples Global Advisors LLC now owns 7,500 shares of the insurance provider’s stock worth $461,000 after purchasing an additional 175 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in First American Financial by 3.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the insurance provider’s stock valued at $312,000 after buying an additional 180 shares in the last quarter. Inscription Capital LLC grew its holdings in First American Financial by 2.4% during the 4th quarter. Inscription Capital LLC now owns 7,639 shares of the insurance provider’s stock valued at $469,000 after buying an additional 181 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of First American Financial by 0.9% in the third quarter. KLP Kapitalforvaltning AS now owns 21,500 shares of the insurance provider’s stock worth $1,381,000 after acquiring an additional 200 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.