ValuEngine Upgrades First American Financial (FAF) to “Hold”

ValuEngine upgraded shares of First American Financial (NYSE:FAF) from a sell rating to a hold rating in a research report sent to investors on Wednesday, March 27th, ValuEngine reports.

A number of other equities analysts have also recently commented on the company. Barclays set a $58.00 price target on First American Financial and gave the stock a buy rating in a report on Friday, February 15th. Zacks Investment Research upgraded First American Financial from a sell rating to a hold rating in a research report on Monday, February 11th. Finally, Compass Point assumed coverage on First American Financial in a research report on Thursday, January 24th. They set a buy rating and a $58.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $56.60.

NYSE:FAF traded down $0.05 during mid-day trading on Wednesday, hitting $55.55. 417,842 shares of the stock were exchanged, compared to its average volume of 573,885. The stock has a market cap of $6.19 billion, a P/E ratio of 12.13, a PEG ratio of 1.09 and a beta of 0.85. First American Financial has a fifty-two week low of $41.96 and a fifty-two week high of $57.88.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, February 14th. The insurance provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.13. First American Financial had a return on equity of 14.87% and a net margin of 8.26%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm earned $1.96 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts predict that First American Financial will post 4.63 earnings per share for the current fiscal year.

In related news, EVP Kenneth D. Degiorgio sold 5,204 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $51.53, for a total transaction of $268,162.12. Following the transaction, the executive vice president now directly owns 504,942 shares of the company’s stock, valued at approximately $26,019,661.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kenneth D. Degiorgio sold 7,052 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $51.07, for a total value of $360,145.64. Following the transaction, the executive vice president now directly owns 448,026 shares in the company, valued at $22,880,687.82. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Lunia Capital LP grew its holdings in shares of First American Financial by 2,384.2% in the fourth quarter. Lunia Capital LP now owns 6,088,762 shares of the insurance provider’s stock valued at $6,089,000 after acquiring an additional 5,843,667 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in First American Financial by 4,404.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,973,445 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 1,929,636 shares during the period. FMR LLC grew its holdings in First American Financial by 19.3% during the fourth quarter. FMR LLC now owns 9,135,859 shares of the insurance provider’s stock valued at $407,825,000 after purchasing an additional 1,477,309 shares during the period. Norges Bank bought a new position in First American Financial during the fourth quarter valued at $63,323,000. Finally, First Trust Advisors LP grew its holdings in First American Financial by 166.4% during the fourth quarter. First Trust Advisors LP now owns 859,392 shares of the insurance provider’s stock valued at $38,363,000 after purchasing an additional 536,765 shares during the period. 84.97% of the stock is owned by hedge funds and other institutional investors.

First American Financial Company Profile

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

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