First American Financial (NYSE:FAF) PT Raised to $72.00 at Barclays

First American Financial (NYSE:FAF) had its price target hoisted by Barclays from $70.00 to $72.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Several other analysts have also recently commented on the company. Truist Financial lifted their price target on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday. Stephens restated an “overweight” rating and issued a $66.00 target price on shares of First American Financial in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.50.

First American Financial Price Performance

NYSE:FAF opened at $63.28 on Friday. First American Financial has a 1-year low of $49.55 and a 1-year high of $67.88. The firm has a 50 day simple moving average of $64.71 and a 200-day simple moving average of $59.09. The firm has a market cap of $6.51 billion, a PE ratio of 33.84 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 EPS. As a group, sell-side analysts expect that First American Financial will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were issued a $0.54 dividend. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, September 20th. This represents a $2.16 annualized dividend and a yield of 3.41%. First American Financial’s dividend payout ratio (DPR) is presently 115.51%.

Institutional Investors Weigh In On First American Financial

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in First American Financial by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock worth $630,000 after purchasing an additional 193 shares during the period. Tributary Capital Management LLC boosted its position in shares of First American Financial by 35.2% in the first quarter. Tributary Capital Management LLC now owns 7,300 shares of the insurance provider’s stock worth $446,000 after buying an additional 1,900 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of First American Financial by 9.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock worth $81,836,000 after buying an additional 111,197 shares during the period. State of Michigan Retirement System grew its stake in shares of First American Financial by 2.4% in the first quarter. State of Michigan Retirement System now owns 25,364 shares of the insurance provider’s stock valued at $1,548,000 after buying an additional 600 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in shares of First American Financial during the 1st quarter valued at about $579,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.