First American Financial (NYSE:FAF) Stock Rating Lowered by Zacks Research

First American Financial (NYSE:FAF) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

FAF has been the topic of several other research reports. Barclays lifted their target price on First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Stephens restated an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Weiss Ratings raised shares of First American Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Truist Financial increased their target price on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and an average price target of $82.50.

First American Financial Trading Down 3.5%

Shares of NYSE FAF opened at $67.01 on Tuesday. First American Financial has a 12-month low of $53.09 and a 12-month high of $71.47. The stock’s fifty day simple moving average is $67.41 and its two-hundred day simple moving average is $64.84. The stock has a market capitalization of $6.83 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.06 by $0.27. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. First American Financial had a return on equity of 12.58% and a net margin of 8.73%.The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. On average, equities analysts predict that First American Financial will post 6.81 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Lisa W. Cornehl sold 5,823 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the transaction, 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Margaret M. Mccarthy sold 6,630 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $70.59, for a total transaction of $468,011.70. Following the completion of the transaction, the director directly owned 24,024 shares of the company’s stock, valued at $1,695,854.16. The trade was a 21.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Duncker Streett & Co. Inc. raised its holdings in shares of First American Financial by 616.4% in the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after buying an additional 376 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of First American Financial during the fourth quarter valued at $27,000. Global Retirement Partners LLC grew its holdings in shares of First American Financial by 1,107.5% during the fourth 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 during the last quarter. Danske Bank A S purchased a new stake in shares of First American Financial during the third quarter valued at $45,000. Finally, IFP Advisors Inc increased its position in shares of First American Financial by 568.8% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 637 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Company Profile

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.