First American Financial (FAF) Hits New 12-Month High at $61.48

First American Financial Corp (NYSE:FAF)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $61.48 and last traded at $61.16, with a volume of 418500 shares changing hands. The stock had previously closed at $59.67.

A number of brokerages recently issued reports on FAF. Stephens upgraded shares of First American Financial from an “equal” rating to a “weight” rating in a research report on Monday, January 8th. Zacks Investment Research upgraded shares of First American Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Thursday, December 28th. Finally, Barclays increased their target price on shares of First American Financial from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. First American Financial has a consensus rating of “Buy” and a consensus target price of $54.00.

The company has a market capitalization of $6,810.00, a PE ratio of 24.21, a PEG ratio of 1.22 and a beta of 0.74.

First American Financial (NYSE:FAF) last announced its earnings results 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 EPS. First American Financial’s revenue was up .7% compared to the same quarter last year. equities analysts anticipate that First American Financial Corp will post 3.55 EPS for the current year.

In other news, CFO Mark Edward Seaton sold 9,981 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $54.87, for a total transaction of $547,657.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth D. Degiorgio sold 7,337 shares of the firm’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,161 shares of company stock valued at $10,639,325. Insiders own 3.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its position in shares of First American Financial by 352.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,696 shares of the insurance provider’s stock valued at $120,000 after purchasing an additional 2,100 shares in the last quarter. Quantbot Technologies LP lifted its stake in First American Financial by 78.1% during the second quarter. Quantbot Technologies LP now owns 3,061 shares of the insurance provider’s stock valued at $136,000 after buying an additional 1,342 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in First American Financial during the third quarter valued at about $190,000. Verition Fund Management LLC purchased a new stake in First American Financial during the second quarter valued at about $203,000. Finally, Garner Asset Management Corp purchased a new stake in First American Financial during the second quarter valued at about $206,000. Institutional investors own 83.35% of the company’s stock.

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First American Financial Company Profile

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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