First American Financial (NYSE:FAF) Stock Rating Upgraded by Benchmark

First American Financial (NYSE:FAF) was upgraded by analysts at Benchmark to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a report on Monday. Stephens reaffirmed an “overweight” rating and set a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Barclays lifted their price target on First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Zacks Research cut shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of First American Financial from $87.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $84.20.

First American Financial Price Performance

FAF opened at $70.43 on Tuesday. The stock has a market cap of $7.18 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.70 and a beta of 1.23. The stock’s 50 day simple moving average is $68.18 and its 200 day simple moving average is $65.85. First American Financial has a 1-year low of $56.20 and a 1-year high of $73.50.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.28. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.03 billion. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.First American Financial’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $1.53 EPS. Research analysts expect that First American Financial will post 6.74 EPS for the current fiscal year.

Insider Buying and Selling at First American Financial

In other news, Director Margaret M. Mccarthy sold 6,630 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $70.59, for a total value of $468,011.70. Following the sale, the director directly owned 24,024 shares in the company, valued at $1,695,854.16. This represents a 21.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lisa W. Cornehl sold 5,823 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total value of $399,632.49. Following the completion of the sale, the senior vice president owned 29,635 shares in the company, valued at $2,033,850.05. This represents a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.50% of the company’s stock.

Institutional Trading of First American Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. raised its stake in First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 376 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of First American Financial during the 4th quarter worth about $27,000. Global Retirement Partners LLC boosted its stake 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 worth $30,000 after purchasing an additional 443 shares during the last quarter. Danske Bank A S purchased a new stake in shares of First American Financial during the third quarter worth about $45,000. Finally, IFP Advisors Inc grew its holdings in shares of First American Financial by 568.8% during the fourth quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock worth $46,000 after buying an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

More First American Financial News

Here are the key news stories impacting First American Financial this week:

• Positive Sentiment: FAF beat Q2 expectations, posting adjusted EPS of $2.08 versus the $1.80 consensus, and revenue of $2.11 billion versus estimates of $2.03 billion, which points to solid underlying operating performance. Article Title
• Positive Sentiment: Several recent analyst updates nudged near- and medium-term earnings estimates slightly higher, suggesting some confidence in FAF’s earnings trajectory. Reference
• Neutral Sentiment: Zacks Research maintained a “Hold” rating, indicating analysts see the stock as fairly valued rather than a clear buy at current levels. Reference
• Negative Sentiment: Despite the earnings beat, the stock has been pressured as investors may be taking profits or weighing whether the improvement is enough to justify a further re-rating after the recent run-up. Article Title

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.