First American Financial (FAF) Rating Increased to Weight at Stephens

Stephens upgraded shares of First American Financial (NYSE:FAF) from an equal rating to a weight rating in a research note published on Monday, Marketbeat.com reports.

FAF has been the subject of a number of other research reports. Zacks Investment Research raised shares of First American Financial from a hold rating to a strong-buy rating and set a $61.00 price objective for the company in a report on Monday, October 30th. Barclays upped their price objective on shares of First American Financial from $52.00 to $60.00 and gave the company an overweight rating in a report on Friday, October 27th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $54.00.

Shares of First American Financial (NYSE FAF) traded down $0.76 on Monday, hitting $59.63. 1,006,979 shares of the company were exchanged, compared to its average volume of 803,200. First American Financial has a 12-month low of $36.62 and a 12-month high of $61.29. The stock has a market capitalization of $6,640.00, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.20 and a beta of 0.74.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.12. First American Financial had a net margin of 4.88% and a return on equity of 14.30%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. First American Financial’s quarterly revenue was up .7% on a year-over-year basis. sell-side analysts expect that First American Financial will post 3.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 8th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, December 7th. First American Financial’s dividend payout ratio is currently 60.08%.

In other First American Financial news, insider Kenneth D. Degiorgio sold 7,337 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $55.11, for a total transaction of $404,342.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Edward Seaton sold 9,981 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $54.87, for a total transaction of $547,657.47. The disclosure for this sale can be found here. Insiders sold 193,161 shares of company stock valued at $10,639,325 in the last three months. 3.10% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First American Financial by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock worth $170,000 after buying an additional 298 shares during the period. Utah Retirement Systems boosted its stake in First American Financial by 1.5% during the second quarter. Utah Retirement Systems now owns 19,700 shares of the insurance provider’s stock worth $880,000 after buying an additional 300 shares during the period. Ameritas Investment Partners Inc. boosted its stake in First American Financial by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 49,001 shares of the insurance provider’s stock worth $2,190,000 after buying an additional 584 shares during the period. CWH Capital Management Inc. boosted its stake in First American Financial by 1.1% during the second quarter. CWH Capital Management Inc. now owns 73,803 shares of the insurance provider’s stock worth $3,298,000 after buying an additional 830 shares during the period. Finally, CIBC World Markets Inc. boosted its stake in First American Financial by 4.8% during the second quarter. CIBC World Markets Inc. now owns 22,419 shares of the insurance provider’s stock worth $1,002,000 after buying an additional 1,035 shares during the period. 83.35% of the stock is owned by institutional investors.

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About First American Financial

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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